The Reserve Bank of India (RBI) on December 01, 2023, notified regarding the Premature redemption under the Sovereign Gold Bond Scheme - Redemption Price for premature redemption due on December 04, 2023 (SGB 2017-18 Series X)
The following has been stated namely: -
• This has a reference to the GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series X - Issue date December 04, 2017) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable.
• It states that the next due date of premature redemption of the above tranche shall be December 04, 2023.
• It further states that 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 as published by the India Bullion and Jewellers Association Ltd (IBJA).
• The redemption price for premature redemption due on December 04, 2023, shall be ₹6265/- (Rupees Six thousand two hundred sixty-five only) per unit of SGB based on the simple average of closing gold price for three business days i.e., November 29, 30 and December 01, 2023.
[Press Release: 2023-2024/1399]
