The Reserve Bank of India (RBI) has issued the Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on 4th February, 2023. The notification was issued on 27th January, 2023.
According to the Notification dated 14th July, 2016 on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after the fifth year from the date of issue of such Gold Bond on the date on which interest is payable.
The present notification states that the fourth due date of premature redemption of the above tranche shall be 4th February, 2023 (February 05, 2023, being Sunday).
The redemption price of SGB shall be based on a simple average of the closing price of gold of 999 purity, of the week (Monday-Friday), preceding the redemption date.
The redemption price for premature redemption due on 4th February, 2023, shall be ₹5717/- per unit of SGB based on the simple average of closing gold price for the week of January 23-27, 2023.
