MANU/RPRL/0521/2022

Ministry : Reserve Bank of India

Department/Board : Press Release

Press Release No. : 2022-2023/1178

Date : 10.11.2022

Notification/ Circulars Referred : GOI Notification F. No. 4(25) - W&M/2017 dated October 06, 2017 MANU/EAFF/0085/2017

Referred IN

Citing Reference:
GOI Notification F. No. 4(25) - W&M/2017 dated October 06, 2017 MANU/EAFF/0085/2017  Referred

Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on November 11, 2022 (November 12 and November 13, 2022 being Saturday and Sunday respectively) (SGB 2017-18 Series VII)

1. In terms of GOI Notification F. No. 4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series VII - Issue date November 13, 2017) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the first due date of premature redemption of the above tranche shall be November 11, 2022 (November 12 and November 13, 2022 being Saturday and Sunday respectively).

2. Further, the redemption price of SGB shall be based on the simple average of closing gold price of 999 purity of 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 November 11, 2022 (November 12 and November 13, 2022 being Saturday and Sunday respectively) shall be ₹ 5133/- (Rupees Five thousand one hundred thirty-three only) per unit of SGB based on the simple average of closing gold price for three business days i.e., November 07, 09 and 10, 2022.

Rupambara
Director (Communications)