Invested in Sovereign Gold Bond? SGB 2016-17 Series IV Premature Redemption at 75% higher price - Due date soon | The Financial Express

Invested in Sovereign Gold Bond? You can redeem SGB 2016-17 Series IV at 75% higher price – Last date soon

Sovereign Gold Bond Premature Redemption. Redeem SGB 2016-17 Series IV at 75% higher price. Check last date, details

Invested in Sovereign Gold Bond? You can redeem SGB 2016-17 Series IV at 75% higher price – Last date soon
SGB Premature Redemption: RBI said the redemption price of SGB for the second premature redemption due on September 17, 2022 shall be Rs.5077 per unit.

Sovereign Gold Bond Premature Redemption Due Date: The Reserve Bank of India has announced that the second due date of premature redemption of the Sovereign Gold Bond (SGB) 2016-17, Series IV shall be September 17, 2022. In a statement dated 9th September 2022, RBI also said the redemption price of SGB for the second premature redemption due on September 17, 2022 shall be Rs.5077 per unit.

This price is based on the simple average 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), according to the statement.

As per the Government’s notification on SGB 2016-17 Series IV, premature redemption may be permitted after the fifth year from the date of issue of such Gold Bond on the date on which interest is payable. The second due date for the premature redemption of SGB 2016-17 Series IV has been accordingly fixed as September 17.

“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 premature redemption due on September 17, 2022 shall be Rs.5077/- (Rupees Five Thousand Seventy-seven only) per unit of SGB based on the simple average of closing gold price for the week September 05-09, 2022,” the RBI said in its statement.

What the 2017 notification said

The Government notification dated 23 February 2017 on SGB 2016-17 Series IV said, “The Gold Bond shall be repayable on the expiration of eight years from the 17th day of March 2017, the date of the issue of Gold Bonds: Provided that premature redemption of Gold Bond may be permitted after the fifth year from the date of issue of such Gold Bond on the date on which interest is payable.”

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