The Reserve Bank of India (RBI) on Wednesday announced that the final redemption price for the Sovereign Gold Bond (SGB) 2017-18 Series-IV, due on October 23, 2025, has been fixed at ₹12,704 per gram of gold.
The redemption amount has been calculated based on the simple average of the closing price of gold (999 purity) published by the India Bullion and Jewellers Association (IBJA) for the three business days preceding the redemption date.Issued on October 23, 2017, the 2017-18 Series-IV tranche of the SGB scheme completes its eight-year maturity period this week. Investors will receive the redemption proceeds directly into their bank accounts registered with the depository or bank branch through which the bonds were originally purchased.
The Sovereign Gold Bond Scheme, launched by the Government of India in 2015, allows investors to invest in gold in a dematerialised form, offering interest income along with potential capital gains linked to gold prices. The bonds are issued by the RBI on behalf of the Government of India as part of its market borrowing programme.
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