The Reserve Bank of India (RBI) on June 28, 2024, issued the Premature redemption under the Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on July 01, 2024 (Series XIV of SGB 2017-18 and Series IV of SGB 2018-19).
The following has been stated namely: -
• The premature redemption of a 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.
• The next due date of premature redemption of the above tranches shall be July 01, 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.
• The redemption price for premature redemption due on July 01, 2024, shall be ₹7150/- per unit of SGB based on the simple average of closing gold price for the three business days i.e., June 26 to June 28, 2024.
[Press Release: 2024-2025/594]
