RBI today announced the next due date of premature redemption of the Sovereign Gold Bond Scheme (SGB 2017-18, Series IX – Issue date November 27, 2017) tranche shall be May 26, 2023 (May 27, 2023, being a non-working Saturday).
As per Sovereign Gold Bond Scheme, premature redemption of a Gold Bond may be permitted after the 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)Sovereign Gold Bond Scheme (SGB 2017-18, Series IX – Issue date November 27, 2017), RBI said.
The redemption price of SGB shall be based on the simple average of the closing gold price of 999 purity of the 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, is 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.
