The Reserve Bank of India (RBI) on February 02, 2024, issued a notification regarding the Final redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for the final redemption of SGB 2016-I due on February 08, 2024.
The Gold Bond shall be repayable on the expiration of eight years from the date of the issue of the Gold Bond. Accordingly, the final redemption date of the above tranche shall be February 08, 2024.
Further, 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, as published by the India Bullion and Jewellers Association Ltd (IBJA).
Accordingly, the redemption price for the final redemption due on February 08, 2024, shall be ₹6271/- (Rupees Six thousand two hundred and seventy-one only) per unit of SGB based on the simple average of the closing price of gold for the week January 29-February 02, 2024.
[Press Release- 2023-2024/1798]
