The Reserve Bank of India (RBI) on November 17, 2023, issued the notification regarding the Premature redemption under the Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on November 20, 2023 (SGB 2017-18 Series VIII).
The following has been stated namely: -
• The premature redemption of the 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 November 20, 2023.
• The redemption price of SGB shall be based on the simple average 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 November 20, 2023, shall be ₹6076/- per unit of SGB based on the simple average of closing gold price for three business days i.e., November 15, 16, and 17, 2023.
[Press Release: 2023-2024/1315]
