The Reserve Bank of India (RBI) on June 03, 2024, issued a notification regarding the Premature redemption under the Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on June 04, 2024 (Series X of SGB 2017-18).
In terms of 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 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 of premature redemption of the above tranche shall be June 04, 2024.
Further, 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). Accordingly, the redemption price for premature redemption due on June 04, 2024, shall be Rs 7208/- (Rupees Seven Thousand Two Hundred and Eight only) per unit of SGB based on the simple average of closing gold price for three business days i.e., May 30, 31 and June 03, 2024.
[Notification No. 2024-2025/430]
