Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on February 05, 2024 (Series I of SGB 2016-17)
In terms of GOI Notification F. No. 4(7) - W&M/2016 dated July 14, 2016 (SGB 2016-17, Series I - Issue date August 05, 2016) 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 February 05, 2024.
2. Further, the redemption price of SGB shall be based on the simple average of 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 premature redemption due on February 05, 2024 shall be ₹6271/- (Rupees Six thousand two hundred and seventy-one) only per unit of SGB based on the simple average of closing gold price for the week January 29-February 02, 2024.