In terms of GOI Notification F.No.4(7) - W&M/2016 dated July 14, 2016 (SGB 2016-17, Series I - Issue date August 05, 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 August 05, 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 August 05, 2023 shall be ₹5950/- (Rupees Five thousand nine hundred fifty only) per unit of SGB based on the simple average of closing gold price for the week July 24-28, 2023.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/669