Premature redemption under Sovereign Gold Bond Scheme - Redemption Price for premature redemption

Premature redemption under Sovereign Gold Bond Scheme - Redemption Price for premature redemption The Reserve Bank of India (RBI) Notifies that Redemption Price for premature redemption due on May 12, 2022 vide Press Release No. 2022-2023/182 dated May 09, 2022. The Press Release is Given Below: In terms of GOI Notification F.No.4(8) - W&M/2017 dated April 20, 2017 (SGB 2017-18, Series I - Issue date May 12, 2017) 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 first due date of premature redemption of the above tranche shall be May 12, 2022. 2. Further, the redemption price of SGB shall be based on the simple average 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 first premature redemption due on May 12, 2022 shall be ₹5,147/- (Rupees Five thousand one hundred forty-seven only) per unit of SGB based on the simple average of closing gold price for the week May 02-06, 2022.