6 hours Ago By Zee News
The Premature redemption of the SGB series coincides with Akshaya Tritiya, variously known as Akti or Akha Teej or Akshaya Trutiya, is considered to be one of the most auspicious days for Hindus. 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 today (April 30, 2025), the Reserve Bank of India has said. The Premature redemption of the SGB series coincides with Akshaya Tritiya, variously known as Akti or Akha Teej or Akshaya Trutiya, is considered to be one of the most auspicious days for Hindus.
It falls on the Lunar day of Shukla Paksha in the month of Vaisakha. As the name suggests, Akshaya Tritiya means the 'third day of unending prosperity'. The Premature 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).
"In terms 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, 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 April 30, 2025, RBI said.
Sovereign Gold Bond Scheme: How Much Money Will You Get? 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 redemption price for premature redemption due on April 30, 2025, shall be Rs 9,558/- (Rupees Nine Thousand Five Hundred and Fifty-eight only) per unit of SGB based on the simple average of closing gold price for the three business days i.e.
, April 25, April 28, and April 29, 2025, RBI added. What is Sovereign Gold Bond Scheme? Sovereign Gold Bond Scheme are government securities denominated in grams of gold. They are substitutes for holding physical gold.
Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India. How Is Sovereign Gold Bond Scheme being sold? The bonds will be sold through scheduled commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz.
, National Stock Exchange of India Limited and Bombay Stock Exchange Limited. Who can buy Sovereign Gold Bond Scheme? The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. Stay informed on all the latest news , real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.
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