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RBI announces Premature redemption of Sovereign Gold Bond and its Redemption Price due on 17-3-2022

The Reserve Bank of India (RBI) announces the Premature redemption of the Sovereign Gold Bond Scheme (Series IV of SGB 2016-17) - Redemption Price for premature redemption due on 17 March 2022.

In terms of GOI Notification F. No. 4(16)-W&M/2016 dated 23 February 2017 (SGB 2016-17, Series IV- Issue date 17 March 2017) of Sovereign Gold Bond (SGB) 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 17 March 2022.

Further, the redemption price of SGB shall be based on the simple average closing gold price of 999 purity [published by the India Bullion and Jewellers Association Ltd (IBJA)] of the week (Monday-Friday) preceding the date of redemption. Accordingly, the redemption price for the premature redemption due on 17 March 2022, shall be ₹5313/- (Rupees Five Thousand Three Hundred Thirteen only) per unit of SGB based on the simple average of closing gold price for the week of March 7-11, 2022.

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