MUMBAI, India, July 11 -- 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-IV-Issue date July 14, 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 on July 14, 2025.
2. Further, the redemption price of SGB shall be based on 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 red...