SGB final redemption: The Sovereign Gold Bond is issued by Reserve Bank on behalf of Government of India. If you are an investor in this SGB tranche, then here are a few important things to keep in mind with regards to the maturity of an SGB tranche.
The Reserve Bank of India announced the final day of redemption for the Sovereign Gold Bond (SGB) Scheme SGB 2016-I. The price for the final redemption is computed using the simple average closing gold price from January 29 to February 2, 2024.
Read This to Know All About Withdrawing Sovereign Gold Bonds Before Maturity
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Sovereign Gold Bonds (SGBs) are substitutes to physical gold and are government securities denominated in the yellow metal. Investors of SGBs are given a holding certificate. The tenor of the SGB is eight years, however, if the investors want to withdraw the bond before this period, then the facility is available after the fifth year from the date of issue on coupon payment dates. If the bond is held in the demat form, it is tradable on exchanges or the sovereign gold bond can be transferred to any other eligible investor.