PREMATURE REDEMPTION UNDER SOVEREIGN GOLD BOND (SGB) SCHEME - REDEMPTION PRICE FOR PREMATURE REDEMPTION DUE ON MARCH 11, 2025 (SERIES X OF SGB 2019-20)

MUMBAI, India, March 10 -- Reserve Bank of India issued the following press release:

In terms of GOI Notification F.No.4 (7) - B (W&M)/2019 dated September 30, 2019 (SGB 2019-20 Series X -Issue date March 11, 2020) 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 March 11, 2025.

2. Further, the redemption price of SGB shall be based on the simple average of closing gold price of 999 purity of previous three business days from the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordin...