Business

State Gold Bonds: First maturity date for early redemption of SGB 2017-18 series V is set for October 29


The Reserve Bank of India (RBI) on Friday announced the maturity date for the first early redemption of series V under the Sovereign Gold Bonds (SGB) 2017-18. Generally, gold bonds are allowed to be redeemed early after the fifth year from the date of issue of this sovereign bond. With that said, the first expiration date for the early redemption of SGB 2017-18 Series V is set for October 29. In addition, RBI has also announced the redemption price for this series.

In its statement, for the SGB 2017-18 Series V, RBI said, “on Sovereign Yellow Under the Bond Program, early redemption of the Gold Bonds may be permitted after the fifth year from the date of issue of such Gold Bonds on the interest payable date. Accordingly, the earliest payment due date of the above installment is October 29, 2022 (October 30, 2022 is Sunday). “

SGB ​​2017-18 Series V was released on October 30, 2017.

Furthermore, in the statement, the RBI said, “SGB’s redemption price will be based on a simple average of the closing price of 999 purity gold over the previous three business days from the date of redemption as published. by the Indian Jewelery Association (IBJA).

Accordingly, RBI has set redemption prices for early redemptions on October 29, 2022, at 5058 per SGB unit is based on a simple average of the closing price of gold over three business days, i.e. October 25, 27 and 28, 2022.

Catch them all Commodity News and Live Mint Updates. Download Mint News app to get Daily market update & Direct Business newsletter.

Than
Less than

news5s

News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button