MUMBAI, India, May 22 -- Reserve Bank of India issued the following press release:
In terms of GOI notification F.No.4(5)-B(W&M)/2021 dated May 12, 2021 (SGB 2021-22 Series-I-Issue date May 25, 2021) 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 due date of premature redemption of the above tranche shall be on May 25, 2026.
2. Further, the redemption price of SGB shall be based on simple average of closing price of gold 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 redempt...