The Reserve Bank of India vide its notification dated 8th February 2022 has notified the redemption price for the premature redemption due on February 8 of Sovereign Gold Bond.
As per the Sovereign Gold Bond Scheme (SGB), 2016, the Gold Bond shall be repayable on the expiration of eight years from the 8th February 2016, the date of the issue of Gold Bonds:
Provided that 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.
Therefore, it has been notified, that the forthcoming due date of premature redemption of the above tranche shall be February 08, 2022. Further, the redemption price of SGB is based on the simple average closing gold price of 999 purity of the week (Monday-Friday) preceding the date of redemption.
Accordingly, the redemption price for the premature redemption falling due on February 08, 2022 shall be ₹4813/- (Rupees Four thousand Eight hundred and thirteen only) per unit of SGB based on the simple average of closing gold price for the week January 31- February 04, 2022.
