In terms of GOI Notification F. No. 4(20) - W&M/2017 dated July 06, 2017 (SGB 2017-18, Series II - Issue date July 28, 2017) 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 next due date of premature redemption of the above tranche shall be July 28, 2023.

2. Further, the redemption price of SGB shall be based on the simple average of closing gold price of 999 purity of the week (Monday-Friday) preceding the date of redemption as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordingly, the redemption price for the premature redemption due on July 28, 2023 shall be ₹5,956/- (Rupees Five thousand nine hundred fifty-six only) per unit of SGB based on the simple average of closing gold price for the week July 17-21, 2023.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/637