New Delhi: The Premature redemption of Sovereign Gold Bond Scheme Series XII of SGB 2017-18 is due for today, the Reserve Bank of India has said. 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).
The redemption price for premature redemption due on December 18, 2024, shall be Rs 7,673/- (Rupees Seven Thousand Six Hundred and Seventy-Three only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., December 13, December 16, and December 17, 2024.
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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