RBI fixes Sovereign Gold Bond redemption rate at ₹8,624 per unit
The Hindu
RBI announces redemption price of ₹8,624 per unit for Sovereign Gold Bonds due on March 17, 2025.
The Reserve Bank of India (RBI) said the redemption price for the final redemption of Sovereign Gold Bonds (SGBs) due on March 17, 2025 would be ₹8,624 per unit of SGB. “This price has been fixed based on the simple average of closing gold price for the week March 10-13, 2025,” the RBI said.
“The redemption price of SGB shall be based on the simple average of closing price of gold of 999 purity of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Limted (IBJA),” it stated.
The SGBs 2016-17 Series IV issued on March 17, 2017 as per the Union Government’s Sovereign Gold Bond Scheme are repayable on the expiration of eight years from the date of issue of the Gold Bonds. “Accordingly, the final redemption date of the above tranche shall be March 17, 2025,” the Central Bank said.
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