Final redemption under the Sovereign Gold Bond (SGB) Scheme – Price for final redemption of SGB 2015-I due on November 30, 2023, according to the RBI.
According to GOI Notification F.No.4 (19) – W&M/2014 dated October 30, 2015 (SGB 2015-I – Issue date November 30, 2015) on the Sovereign Gold Bond Scheme, the Gold Bonds are repayable after eight years from the date of issue.
As a result, the above tranche’s final redemption date will be November 30, 2023. The redemption price of SGB will be based on the simple average of the closing price of 999 purity gold for the week preceding the redemption date, as reported by the India Bullion and Jewellers Association Ltd. (IBJA).
As a result, the ultimate redemption price due on November 30, 2023 shall be Rs 6132/- (Rupees Six thousand one hundred thirty-two only) per unit of SGB based on the simple average of gold closing prices for the week November 20-24, 2023.