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Date : Sep 23, 2022
Premature redemption under Sovereign Gold Bond (SGB) Scheme - Redemption Price for premature redemptions due on September 29 and 30, 2022 (SGB 2016 Series II and SGB 2016-17 Series II)

In terms of GOI Notification F.No. 4(19)-W&M/2014 dated March 04, 2016 (SGB 2016 Series II - Issue date March 29, 2016) and GOI Notification 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 the fourth and third premature redemption of the above tranches shall be on September 29, 2022 and September 30, 2022 respectively.

2. Further, the redemption price of SGB shall be based on the simple average of closing gold price 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 the premature redemptions due on September 29 and 30, 2022 shall be Rs.4952/- (Rupees Four Thousand nine hundred and fifty-two only) per unit of SGB based on the simple average of closing gold price for the week September 19-23, 2022.

Rupambara           
Director (Communications)

Press Release: 2022-2023/927


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