Sovereign Gold Bond Scheme
Mumbai: 21 Oct, 2023: In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series IV - Issue date October 23, 2017) and F.No. 4(22)-B(W&M)/2018 dated October 08, 2018 (SGB 2018-19 Series II – Issue date October 23, 2018) 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 tranches shall be October 23, 2023, as per the RBI release.
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 (IBJA). Accordingly, the redemption price for premature redemption due on October 23, 2023 shall be Rs6016/- (Rupees Six thousand and sixteen only) per unit of SGB based on the simple average of closing gold price for three business days i.e., October 18-20, 2023.
