New Delhi: The final redemption of two Sovereign Gold Bond Series IV 2017-18, Series II SGB 2018-19 is due April 23, 2025, the Reserve Bank of India has said.
The final 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).
“In terms of GOI Notification F. No.4(25)-W&M/2017 dated October 06, 2017 (SGB 2017-18 Series IV-Issue date October 23, 2017) and GOI Notification F. No.4(22)- W&M/2018 dated October 08, 2018 (SGB 2018-19 Series II-Issue date October 23, 2018) 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 next due date of premature redemption of the above tranche shall be April 23, 2025,” RBI said.
Further, 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).
Accordingly, the redemption price for premature redemption due on April 23, 2025, shall be Rs 9,669/- (Rupees Nine Thousand Six Hundred and Sixty-nine only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., April 17, April 21, and April 22, 2025.
Sovereign Gold Bond Scheme are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.
The bonds will be sold through scheduled commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
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