The Reserve Bank of India (RBI) announces the redemption price for premature redemption due on November 19, 2022 (November 20, 2022, being a Sunday) (SGB 2017-18 Series VIII).
In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series VIII - Issue date November 20, 2017) on Sovereign Gold Bond Scheme, premature redemption of 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 first due date of premature redemption of the above tranche shall be 19 November 2022 (20 November 2022, being a Sunday).
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 19 November 2022 (20 November 2022, being a Sunday) shall be `5298/- (Rupees Five thousand two hundred ninety-eight only) per unit of SGB based on the simple average of closing gold price for three business days i.e. 16, 17 and 18 November 2022.