Sovereign Gold Bonds 2017 – 18 (Series II) can be redeemed prematurely at Rs.5054 per unit: RBI
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- Last Updated on 25 July, 2022
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PRESS RELEASE: 2022-2023/582, Dated July 22, 2022
The RBI vide. notification dated July 06, 2017 had specified that the premature redemption of Sovereign 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.
The first tranche of the gold bond was issued on July 28, 2017. Accordingly, the first due date of premature redemption of the (Series II of SGB 2017 – 18) tranche shall be July 28, 2022.
Now the RBI has specified that the redemption price of Sovereign Gold Bond (SGB ) shall be based on the simple average 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 first premature redemption due on July 28, 2022, shall be Rs.5054/- (Rupees Five thousand fifty-four only) per unit of SGB based on the simple average of closing gold price for the week of July 18-22, 2022.
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