In terms of GOI Notification F.No.4(16) - W&M/2016 dated October 20, 2016 (SGB 2016-17, Series III - Issue date November 17, 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 next due date of premature redemption of the above tranche shall be May 17, 2023.

2. Further, the redemption price of SGB shall be based on the simple average of 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 premature redemption due on May 17, 2023 shall be ₹6,135/- (Rupees Six thousand one hundred thirty five only) per unit of SGB based on the simple average of closing gold price for the week May 08 - May 12, 2023.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/224