MUMBAI, India, May 16 -- Reserve Bank of India issued the following press release:
In terms of GOI Notification F.No.4(4)-B (W&M)/2020 dated April 13, 2020, (SGB 2020-21 Series II - Issue date May 19, 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 May 19, 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). Accordingly, the r...