The Reserve Bank of India (RBI) on February 09, 2024, issued the Premature redemption under the Sovereign Gold Bond Scheme -Redemption Price for premature redemption due on February 12, 2024 (SGB 2018-19 Series VI)
The following has been stated namely: -
• This has a reference to the Government of India Notification F. No. 4(22) – B(W&M)/2018 dated October 08, 2018 (SGB 2018-19, Series VI - Issue date February 12, 2019) 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 February 12, 2024.
•The redemption price of SGB shall be based on the simple average of the 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 February 12, 2024, shall be ₹6,263/- (Rupees Six thousand two hundred and sixty-three only) per unit of SGB based on the simple average of closing gold price for three business days i.e., February 07-09, 2024.
[Press Release: 2023-2024/1850]
