In terms of GOI Notification F.No.4(19) - W&M/2014 dated Jan 14, 2016 (SGB 2016-I -Issue date February 08, 2016) 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 fifth due date of premature redemption of the above tranche shall be February 08, 2023.

2. Further, the redemption price of SGB shall be based on simple average of closing price of gold 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 premature redemption due on February 08, 2023 shall be ₹5770/- (Rupees Five thousand seven hundred and seventy only) per unit of SGB based on the simple average of closing gold price for the week January 30-February 03, 2023.

Ajit Prasad            
Director (Communications)

Press Release: 2022-2023/1669