MANU/RPRL/0390/2024

Ministry : Reserve Bank of India

Department/Board : Press Release

Press Release No. : 2024-2025/474

Date : 10.06.2024

Notification/ Circulars Referred : GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 MANU/EAFF/0086/2017; GOI Notification F.No.4(7) - B(W&M)/2019 dated May 30, 2019 MANU/EAFF/0026/2019

Subject: Banking

Citing Reference:
GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 MANU/EAFF/0086/2017  Referred

GOI Notification F.No.4(7) - B(W&M)/2019 dated May 30, 2019 MANU/EAFF/0026/2019  Referred

Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemption due on June 11, 2024 (Series XI of SGB 2017-18) and (Series I of 2019-20)

1. In terms of GOI Notification F.No.4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series XI-Issue date December 11, 2017) and in terms of GOI Notification F.No.4(7) - B(W&M)/2019 dated May 30, 2019 (SGB 2019-20 Series I-Issue date June 11, 2019) 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 tranches shall be on June 11, 2024.

2. Further, the redemption price of SGB shall be based on simple average of closing gold price of 999 purity of 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 June 11, 2024, shall be ₹7195/- (Rupees Seven thousand one hundred and ninety-five only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., June 06, June 07, and June 10, 2024.

Ajit Prasad
Deputy General Manager
(Communications)