RBI announces premature redemption calendar for SGBs issued from May 2017-March 2020

The central bank plans to process the redemption of 30 Sovereign Gold Bonds from October 11, 2024, to March 1, 2025.

The Reserve Bank of India (RBI) has released a calendar for the premature redemption of Sovereign Gold Bonds (SGBs) issued between May 2017 and March 2020. The central bank plans to process the redemption of 30 Sovereign Gold Bonds from October 11, 2024, to March 1, 2025.

According to RBI guidelines, SGB holders can request premature redemption after a five-year holding period from the date of issue. Investors are advised to submit their redemption requests during the designated windows through Receiving Offices, NSDL, CDSL, or via RBI Retail Direct.

SGBs are government-backed securities valued in grams of gold, offering a cash alternative to physical gold ownership. Investors purchase these bonds at an issue price and receive cash upon maturity. Issued by the RBI on behalf of the Government of India, these bonds offer a convenient investment in gold without the hassle of physical storage.

The RBI has emphasised that investors must adhere to the designated submission periods and note that redemption dates can shift in case of unscheduled holidays. For further details, investors are advised to review the official RBI circular or contact their bond-issuing authorities.