The Reserve Bank of India (RBI) on June 10, 2024, notified regarding the premature redemption under the Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on June 11, 2024 (Series XI of SGB 2017-18) and (Series I of 2019-20).
The following has been stated namely: -
• It is in reference to GOI Notification F.No. 4(25) - W&M/2017 dated October 06, 2017, related to 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.
• It states that the next due date of premature redemption of the above tranches shall be on June 11, 2024.
• It states 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).
• It states that the redemption price for premature redemption due on June 11, 2024, shall be Rs. 7195/- (Rupees Seven thousand one hundred and ninety-five only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., June 06, June 07, and June 10, 2024.
[Notification no. - 2024-2025/474]
