The Reserve Bank of India (RBI) on Dec 02, 2022, issued a notification regarding Redemption Price for premature redemption under Sovereign Gold Bond (SGB) Scheme due on December 03, 2022. The following clarifications are provided:
• 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 first due date of premature redemption of the above tranche shall be December 03, 2022 (December 04, 2022 being a Sunday).
• The redemption price of SGB shall be based on the 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).
• The redemption price for premature redemption due on December 03, 2022 shall be ₹5320/- per unit of SGB based on the simple average of closing gold price for three business days i.e., November 30, December 01 and December 02, 2022.
