Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on May 20, 2023 (Series VIII of SGB 2017-18)RBI Press release 19th May 2023
In terms of GOI Notification F. No. 4(25) – W&M/2017 dated October 06, 2017 (SGB 2017-18, Series VIII – Issue date November 20, 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 20, 2023.
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 20, 2023 shall be ₹6,047/- (Rupees Six thousand and forty-seven only) per unit of SGB based on the simple average of closing gold price for the period May 17-19, 2023.
Ajit Prasad
Director (Communications)
Press Release: 2023-2024/255
