The RBI on Friday announced a price of Rs 6,079 per unit for the premature redemption of
sovereign gold bonds issued by the government.
The price is 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 October 30, 2023 shall be Rs 6,079 (Rupees Six thousand seventy-nine only) per unit of SGB based on the simple average of closing gold price for three business days i.e., October 25-27, 2023,” the RBI said.
Premature redemption of Gold Bonds may be allowed under the Sovereign Gold Bond Scheme after the Bonds’ fifth year from the date of issue on the date that interest is due. October 30, 2017, saw the issuance of these bonds.
The RBI announcement stated that as a result, October 30, 2023, is the next deadline for the premature redemption of the aforementioned tranche.