The Reserve Bank of India (RBI) has declared the early redemption price for Sovereign Gold Bonds (SGBs) from the SGB 2017-18 Series IX-Issue date of November 27, 2017.
The redemption price of SGB shall be based on a simple average 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 27, 2024, shall be ₹7296/- (Rupees Seven thousand Two hundred and Ninety-Six Only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., May 22, May 23, and May 24, 2024.
There is a specific annual deadline within which an SGB investor must apply for premature redemption after the completion of 5 years of investment. If the SGB is not tendered to the RBI within this deadline then the said SGB cannot be redeemed in the relevant year. The next due date for premature redemption of the above tranche shall be May 27, 2024.
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