Final redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for final redemption of SGB 2016-I due on February 08, 2024
In terms of GOI Notification F.No.4(19) - W&M/2014 dated January 14, 2016 (SGB 2016-I - Issue date February 08, 2016) on Sovereign Gold Bond Scheme, the Gold Bond shall be repayable on the expiration of eight years from the date of the issue of the Gold Bond. Accordingly, the final redemption date of the above tranche shall be February 08, 2024.
2. Further, the redemption price of SGB shall be based on the simple average of closing price of gold 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 final redemption due on February 08, 2024 shall be ₹6271/- (Rupees Six thousand two hundred and seventy-one only) per unit of SGB based on the simple average of closing price of gold for the week January 29-February 02, 2024.