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 13, 2024 (Series VII of SGB 2017-18 and Series III of SGB 2018-19).
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 tranches shall be May 13, 2024.
•Further, the redemption price of SGB shall be based on the simple average of 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).
•Accordingly, the redemption price for premature redemption due on May 13, 2024, shall be ₹7205/- (Rupees Seven Thousand Two Hundred and Five only) per unit of SGB based on the simple average of closing gold price for three business days i.e., May 08, May 09, and May 10, 2024.
URL: https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=57883
[Press Release: 2024-2025/286]
