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Date : Mar 24, 2023
Premature redemption under Sovereign Gold Bond (SGB) Scheme- Redemption Price for premature redemption due on March 29, 2023 (SGB 2016-II and 2016-17-Series II)

In terms of GOI Notifications F.No.4(19) - W&M/2014 dated March 04, 2016 (SGB 2016-II -Issue date March 29, 2016) and F.No.4(7) - W&M/2016 dated August 29, 2016 (SGB 2016-17 Series II -Issue date September 30, 2016) 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 due date of premature redemption of the above two tranches shall be March 29, 2023 (March 30, 2023 being a holiday).

2. Further, the redemption price of SGB shall be based on simple average of closing price of gold of 999 purity, of the week (Monday-Friday) preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd. (IBJA). Accordingly, the redemption price for premature redemption due on March 29, 2023 (March 30, 2023 being a holiday) shall be ₹5921/- (Rupees Five thousand nine hundred and twenty-one only) per unit of SGB based on the simple average of closing gold price for the week March 20-24, 2023.

Ajit Prasad            
Director (Communications)

Press Release: 2022-2023/1916


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