MUMBAI, India, May 2 -- Reserve Bank of India issued the following press release:
In terms of GOI Notification F. No. 4(8) - W&M/2017 dated April 20, 2017 (SGB 2017-18 Series I - Issue date May 12, 2017) on Sovereign Gold Bond Scheme, the Gold Bond shall be repayable on the expiration of eight years from the date of issue of the Gold Bonds. Accordingly, the final redemption date of the above tranche shall be May 09, 2025 (May 12, May 11 and May 10 being holidays).
2. Further, the redemption price of SGB shall be based on the simple average of closing price of gold of 999 purity of previous week (Monday to Friday) published by the India Bullion and Jewellers Association Limited. Accordingly, the redemption price for the final redemption du...