In its release dated April 13, 2022, RBI provided the Sovereign Gold Bond (SGB) calendar for premature redemption during April -September 2022. The SGBs or sovereign gold bonds are bonds denominated in 1 gm of gold and the scheme was introduced way back in the year 2015 to encourage financial investments into gold and channelise individuals savings into physical gold to this form.
In its release dated April 13, 2022, RBI provided the Sovereign Gold Bond (SGB) calendar for premature redemption during April -September 2022. The SGBs or sovereign gold bonds are bonds denominated in 1 gm of gold and the scheme was introduced way back in the year 2015 to encourage financial investments into gold and channelise individuals savings into physical gold to this form.
As the tenure of these SGBs or maturity term is after 8 years, premature withdrawal is possible after a certain time period and accordingly the government has released the timeline.
| SGB Series | Date of issue | Date of coupon payment | Dates for submitting the request for premature redemption by the investors to the Receiving Offices/NSDL/CDSL/RBI Retail Direct. | |
|---|---|---|---|---|
| From | To | |||
| 2015-I | 30-Nov-15 | 30-May-22 | April 30, 2022 | 20-May-22 |
| 2016-I | 08-Feb-16 | 08-Aug-22 | 08-Jul-22 | 29-Jul-22 |
| 2016-II | 29-Mar-16 | 29-Sep-22 | 29-Aug-22 | 19-Sep-22 |
| 2016-17 Series I | 05-Aug-16 | 05-Aug-22 | 05-Jul-22 | 26-Jul-22 |
| 2016-17 Series II | 30-Sep-16 | 30-Sep-22 | 30-Aug-22 | 20-Sep-22 |
| 2016-17 Series III | 17-Nov-16 | 17-May-22 | April 18, 2022 | 07-May-22 |
| 2016-17 Series IV | 17-Mar-17 | 17-Sep-22 | 17-Aug-22 | 07-Sep-22 |
| 2017-18 Series I | 12-May-17 | 12-May-22 | April 12, 2022 | 02-May-22 |
| 2017-18 Series II | 28-Jul-17 | 28-Jul-22 | 28-Jun-22 | 18-Jul-22 |
As per the RBI document, pre-mature redemption request against the SGBs should be made to the RO or the Receiving Offices or DP in case the investment is held in demat form atleast 10 days before the next interest payment date.
There can extra verification as called forth by the RO or the DP and the investor may be required to furnish necessary documents such as KYC proof etc. The request then shall go through scrutiny for verification of the correctness of the details and may be submitted to RBI via the E-Kuber portal atleast four days before the next interest payment date.
The redemption shall be in INR and the redemption price shall be dependent on the simple average of closing price of gold of 999 purity of previous week (Monday to Friday) for SGBs issued under tranche 1 to 9 and previous three working days for tranches issued thereafter at the rate published by the India Bullion and Jewellers Association Limited.