The Reserve Bank of India (RBI) on May 10, 2024, issued a notification regarding premature redemption under the Sovereign Gold Bond (SGB) Scheme- Redemption Price for premature redemption due on May 17, 2024 (Series III of SGB 2016-17).
The following has been stated: -
•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. Accordingly, the next due date for premature redemption of the above tranche shall be May 17, 2024.
•The redemption price of SGB shall be based on the simple average of the closing gold price of 999 purities, of the week (Monday-Friday), preceding the date of redemption.
•The redemption price for premature redemption due on May 17, 2024, shall be ₹7193/- (Rupees Seven Thousand One hundred and Ninety-three only) per unit of SGB based on the simple average of closing gold price for the week i.e. May 06 – May 10, 2024.
URL: https://website.rbi.org.in/documents/87730/39016390/SGBVI20102016.pdf
[Press Release: 2024-2025/285]
