Sovereign Gold Bond: RBI announces dates for SGB premature redemption dates for October 2023 - March 2024, check details
Sovereign Gold Bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Bond will be for a period of 8 years with exit option in 5th, 6th and 7th year, to be exercised on the interest payment dates.The RBI issued a press release outlining the details of the SGB tranches scheduled for premature redemption during October 2023 - March 2024, as well as a window for submitting requests for premature redemption.
However, it should be noted that in the event of an unplanned holiday or holidays, the above-mentioned dates may vary. If investors decide to redeem their holdings before maturity, they are encouraged to be aware of the deadline for submitting requests for SGB redemption.
SGB premature redemption dates for October 2023 - March 2024
Sl NoSeriesIssue DateDate of Coupon paymentDates for submitting the request for premature redemption by the investors to the Receiving Offices/NSDL/CDSL/RBI Retail Direct FromTo12016-17 Series I5-Aug-165-Feb-245-Jan-2425-Jan-2422016-17 Series II30-Sep-1630-Mar-2429-Feb-2420-Mar-2432016-17 Series III17-Nov-1617-Nov-2317-Oct-237-Nov-2342016-17 Series IV17-Mar-1717-Mar-2417-Feb-246-Mar-2452017-18 Series I12-May-1712-Nov-2312-Oct-2331-Oct-2362017-18 Series II28-Jul-1728-Jan-2428-Dec-2315-Jan-2472017-18 Series III16-Oct-1716-Oct-2316-Sep-236-Oct-2382017-18 Series IV23-Oct-1723-Oct-2323-Sep-2313-Oct-2392017-18 Series V30-Oct-1730-Oct-2330-Sep-2320-Oct-23102017-18 Series VI6-Nov-176-Nov-236-Oct-2327-Oct-23112017-18 Series VII13-Nov-1713-Nov-2313-Oct-233-Nov-23122017-18 Series VIII20-Nov-1720-Nov-2320-Oct-2310-Nov-23132017-18 Series IX27-Nov-1727-Nov-2327-Oct-2315-Nov-23142017-18 Series X4-Dec-174-Dec-234-Nov-2324-Nov-23152017-18 Series XI11-Dec-1711-Dec-2310-Nov-231-Dec-23162017-18 Series XII18-Dec-1718-Dec-2318-Nov-238-Dec-23172017-18 Series XIII26-Dec-1726-Dec-2324-Nov-2316-Dec-23182017-18 Series XIV1-Jan-181-Jan-241-Dec-2322-Dec-23192018-19 Series I4-May-184-Nov-234-Oct-2325-Oct-23202018-19 Series II23-Oct-1823-Oct-2323-Sep-2313-Oct-23212018-19 Series III12-Nov-1812-Nov-2312-Oct-2331-Oct-23222018-19 Series IV1-Jan-191-Jan-241-Dec-2322-Dec-23232018-19 Series V22-Jan-1922-Jan-2422-Dec-2312-Jan-24242018-19 Series VI12-Feb-1912-Feb-2412-Jan-242-Feb-24
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Redemption details
Payment for the bonds will be through cash payment up to a maximum of Rs. 20,000 or demand draft or cheque or electronic banking.
The redemption price will be in Indian Rupees and will be determined by taking the three-day rolling simple average of the closing price of 999-purity gold. Bonds may be used as loan collateral. Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
The bank account number provided on the application form will get credit for both interest and the proceeds of the redemption. If the market price of gold falls, there may be a chance of capital loss. The investor does not, however, lose any of the gold units he purchased.
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This story originally appeared on: India Times - Author:Faqs of Insurances
