Premature redemption of Sovereign Gold Bond Scheme 2016: Check redemption price and other details
Zee News
Though the tenor of the Sovereign Gold Bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates.
New Delhi: The RBI had earlier this week said that the forthcoming due date of premature redemption of Sovereign Gold Bond (SGB) Scheme is today (Wednesday, 17 November 2021).
Though the tenor of the Sovereign Gold Bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.
“In terms of GOI Notification F.No. 4(16)-W&M/2016 dated October 20, 2016 (SGB 2016-17, Series III- Issue date November 17, 2016) of Sovereign Gold Bond (SGB) 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. Therefore, the forthcoming due date of premature redemption of the above tranche shall be November 17, 2021,” RBI said in a circular.
