The Reserve Bank of India (RBI) on September 08, 2023, issued the Premature redemption under the Sovereign Gold Bond (SGB) Scheme- Redemption Price for premature redemption due on September 16, 2023.
The following has been stated namely: -
• Reference is drawn to GOI Notification F.No.4(16) - W&M/2016 dated February 23, 2017, which states that Sovereign Gold Bond Scheme, 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 September 16, 2023 (September 17, 2023, being Sunday)
• The redemption price of SGB shall be based on the simple average of the closing price of gold of 999 purity, of the week (Monday-Friday), preceding the date of redemption.
• The redemption price for premature redemption due on September 16, 2023, shall be ₹5929/- per unit of SGB based on the simple average of closing gold price for the week of September 04-08, 2023.
[Press Release: 2023-2024/897]
