Gold Bond Series V of SGB 2017-18, Series VI of SGB 2019-20 Premature Redemption Falls On Akshaya Tritiya: How Much Money Will You Get?

New Delhi: The Premature redemption of  Sovereign Gold Bond (SGB) Scheme (Series V of SGB 2017-18 and Series VI of SGB 2019-20) is due as of late (April 30, 2025), the Reserve Bank of India has mentioned.

The Premature redemption of the SGB sequence coincides with Akshaya Tritiya,  variously referred to as Akti or Akha Teej or Akshaya Trutiya, is regarded as to be some of the auspicious days for Hindus. It falls at the Lunar day of Shukla Paksha within the month of Vaisakha. As the identify suggests, Akshaya Tritiya method the ‘3rd day of never-ending prosperity’.

The Premature redemption value of SGB will probably be in response to the easy reasonable of final gold value of 999 purity of earlier 3 industry days from the date of redemption, as printed via the India Bullion and Jewellers Association Ltd (IBJA).

“In phrases of GOI Notification F.No. 4(25)-(W&M)/2017 dated October 06, 2017 (SGB 2017-18 Series V – Issue date October 30, 2017) and GOI Notification F. No. 4(7)-B(W&M)/2019 dated September 30, 2019 (SGB 2019-20 Series VI – Issue date October 30, 2019) on Sovereign Gold Bond Scheme, untimely redemption of Gold Bond could also be authorised after 5th yr from the date of factor of such Gold Bond at the date on which passion is payable. Accordingly, the following due date of untimely redemption of the above tranche will probably be April 30, 2025, RBI mentioned.

Sovereign Gold Bond Scheme: How Much Money Will You Get?

Further, the redemption value of SGB will probably be in response to the easy reasonable of final gold value of 999 purity of earlier 3 industry days from the date of redemption, as printed via the India Bullion and Jewellers Association Ltd (IBJA). 

Accordingly, the redemption value for untimely redemption due on April 30, 2025, will probably be Rs 9,558/- (Rupees Nine Thousand Five Hundred and Fifty-eight best) in line with unit of SGB in response to the easy reasonable of final gold value for the 3 industry days i.e., April 25, April 28, and April 29, 2025, RBI added.

What is Sovereign Gold Bond Scheme?

Sovereign Gold Bond Scheme are executive securities denominated in grams of gold. They are substitutes for containing bodily gold. Investors need to pay the problem value in money and the bonds will probably be redeemed in money on adulthood. The Bond is issued via Reserve Bank on behalf of Government of India.

How Is Sovereign Gold Bond Scheme being bought?

The bonds will probably be bought via scheduled industrial banks (apart from Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated put up places of work, and recognised inventory exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

Who should purchase Sovereign Gold Bond Scheme?

The Bonds will probably be limited on the market to resident folks, HUFs, Trusts, Universities and Charitable Institutions.