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BANKER AND DEBT MANAGER TO GOVERNMENT

Managing the government's banking transactions is a key RBI role. Like individuals, businesses and banks, governments need a banker to carry out their financial transactions in an efficient and effective manner, including the raising of resources from the public.

Press Release


PDF document (340 kb)
Date : Jun 25, 2024
Premature redemption under Sovereign Gold Bond (SGB) Scheme- Redemption Price for premature redemption due on June 26, 2024 (Series XIII of SGB 2017-18)

In terms of GOI Notification F.No. 4(25) - W&M/2017 dated October 06, 2017 (SGB 2017-18 Series XIII -Issue date December 26, 2017) 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 on June 26, 2024.

2. Further, the redemption price of SGB shall be based on 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 June 26, 2024, shall be ₹7203/- (Rupees Seven thousand two hundred and three only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., June 21, June 24 and June 25, 2024.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2024-2025/561


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