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New Delhi: The final redemption of Sovereign Gold Bond 2016-17 Series IV is due on Monday, 17 March 2025, the Reserve Bank of India has said.
The final 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).
Sovereign Gold Bond Scheme: How Much Money Will You Get?
The final redemption of Sovereign Gold Bond 2016-17 Series IV, shall be 8,624/- (Rupees Eight Thousand Six Hundred Twenty-Four only) per unit of SGB based on the simple average of closing gold price for the three business days.
“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 Ltd (IBJA). Accordingly, the redemption price for the final redemption due on March 17, 2025, shall be ₹8,624/- (Rupees Eight Thousand Six Hundred Twenty-Four only) per unit of SGB based on the simple average of closing gold price for the week March 10 -13, 2025. (March 14, 2025 being a holiday),” said the RBI.
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.
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