Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption price notified- (Reserve Bank of India) (25 May 2023)

MANU/RPRL/0304/2023

Banking

In terms of GOI Notification F. No. 4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18, Series IX - Issue date November 27, 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 26, 2023 (May 27, 2023 being a non-working Saturday).

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 May 26, 2023 (May 27, 2023 being a non-working Saturday) shall be ₹6,046/- (Rupees Six thousand and forty-six only) per unit of SGB based on the simple average of closing gold price for the period May 23-25, 2023.

Tags : PREMATURE REDEMPTION SGB SCHEME REDEMPTION PRICE