The Reserve Bank of India (RBI) on July 15, 2024, issued a notification regarding premature redemption due on July 16, 2024 (Series II of SGB 2019-20.
The following has been stated: -
•The redemption price of SGB shall be based on a 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 July 16, 2024, shall be ₹7272/- (Rupees Seven thousand two hundred and seventy-two only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., July 11, July 12 and July 15, 2024.
The detailed notification is given in the document below.
[Press Release: 2024-2025/705]
