Redemption Price for premature redemption due on May 12, 2023- (Reserve Bank of India) (08 May 2023)

MANU/RPRL/0265/2023

Banking

1. In terms of GOI Notification F. No. 4(8) - W&M/2017 dated April 20, 2017 (SGB 2017-18, Series I - Issue date May 12, 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 next due date of premature redemption of the above tranche shall be May 12, 2023.

2. Further, the redemption price of SGB shall be based on the simple average of closing gold price of 999 purity, of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordingly, the redemption price for the premature redemption due on May 12, 2023 shall be ₹ 6,115/- (Rupees Six thousand one hundred fifteen only) per unit of SGB based on the simple average of closing gold price for the week May 02-05, 2023.

Tags : REDEMPTION PRICE PREMATURE REDEMPTION GOLD BOND SCHEME