The Reserve Bank of India (RBI) on June 30, 2023, issued the notification regarding the Premature redemption under the Sovereign Gold Bond (SGB) Scheme, the Redemption Price for premature redemption due on July 01, 2023 (Series XIV of SGB 2017-18)
The following has been stated namely: -
• Reference is drawn to Notification F. No. 4(25) - W&M/2017 dated October 06, 2017, on Sovereign Gold Bond Scheme which states that premature redemption of Gold Bond may be permitted after the fifth year from the date of issue of such Gold Bond on the date on which interest is payable.
• The next due date of premature redemption of the above tranche shall be July 01, 2023.
• The redemption price of SGB is based on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption
• The redemption price for premature redemption due on July 01, 2023, shall be ₹5,822/- per unit of SGB based on the simple average of closing gold price for the period June 27, 28, and 30, 2023.
[Press Release: 2023-2024/514]
