India, Oct. 19 -- The Reserve Bank of India (RBI) has fixed the premature redemption price for Sovereign Gold Bond (SGB) 2020-21 Series VII at Rs 14,614 per unit. The redemption is due on October 19, 2026, as October 20 falls on a holiday.
As per the Government of India notification dated October 9, 2020, investors can opt for premature redemption of Sovereign Gold Bonds after the completion of five years from the date of issue, on the interest payment dates.
The redemption price has been calculated based on the simple average of the closing prices of 999-purity gold for the three preceding business days, as published by the India Bullion and Jewellers Association Ltd. (IBJA). The relevant dates considered for the calculation were October...