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Pre-Mature Redemption Of SGBs - RBI Releases Dates



Premature Redemption of Sovereign Gold Bonds: The Reserve Bank of India (RBI) has announced the dates for premature redemption of Sovereign Gold Bonds (SGB). The Central Bank has issued a press release detailing the details of tranches due for premature redemption during H1 of 2022-23, i.e. from April 1 to September 30, 2022, as well as the window for submitting requests for premature redemption.


Premature redemption of Sovereign Gold Bonds (SGBs) is allowed five years from the date of issue, on the day on which the next interest is payable.





- According to the RBI, a request for pre-mature redemption must be sent to the Receiving Offices (RO) or the Depository through DP (in the case of dematerialized securities) at least 10 days prior to the next interest payment date.


- The request must be reviewed to ensure that the details are correct, and it must be sent to RBI via the E-Kuber Portal at least four days before the interest due date.


- At maturity and in the event of premature redemption, the bonds will be redeemed in Indian Rupees at the rate published by the India Bullion and Jewellers Association Limited, with the redemption price based on a simple average of the closing price of gold of 999 purity for the previous week (Monday to Friday) for SGBs issued under tranches 1 to 9 and the previous three working days for tranches issued thereafter.


- The redemption proceeds will be credited to the customer's bank account.

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