Premature redemption under Sovereign Gold Bond (SGB) Scheme- Redemption Price for premature redemption due on April 16, 2024 (SGB 2017-18 Series III)
In terms of GOI Notification F.No.4(25) – W&M/2017 dated October 06, 2017 (SGB 2017-18 Series III – Issue date October 16, 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 April 16, 2024.
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 April 16, 2024 shall be Rs 7260/- (Rupees Seven thousand two hundred and sixty only) per unit of SGB based on the simple average of closing gold price for three business days i.e. April 10, 12 and 15, 2024.
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