Introduction: The Reserve Bank of India (RBI) has issued guidelines for premature redemption of Sovereign Gold Bond (SGB) tranches falling due from April 01, 2024, to September 30, 2024. Investors can now explore the window available for submitting redemption requests. This article delves into the specific details and dates provided by the RBI.
Detailed Analysis: In line with Para 13 of the Consolidated Procedural Guidelines on the SGB Scheme, the RBI permits premature redemption after five years from the date of issue. For the period April 01, 2024, to September 30, 2024, the RBI has outlined the details of tranches due for premature redemption along with the submission window for investor requests.
The table provides a comprehensive overview of the tranches, their issue dates, coupon payment dates, and the period during which investors can submit redemption requests. It’s crucial for investors to take note of these dates, bearing in mind the possibility of changes due to unscheduled holidays.
Investors considering early redemption of their Sovereign Gold Bond holdings now have a clear understanding of the timelines and procedures. The flexibility offered by the RBI allows investors to make informed decisions based on their financial goals and market conditions.
Conclusion: The RBI’s decision to allow premature redemption of Sovereign Gold Bond tranches from April to September 2024 provides investors with a strategic opportunity. By understanding the specific dates and procedures outlined by the RBI, investors can navigate the redemption process effectively. As always, staying informed about any potential changes due to unscheduled holidays is advisable. This move by the RBI aligns with its commitment to providing flexibility and options to investors participating in the Sovereign Gold Bond Scheme.
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Reserve Bank of India
Date : Feb 27, 2024
In terms of Para 13 of the Consolidated Procedural Guidelines on the Sovereign Gold Bond (SGB) Scheme issued by the Reserve Bank of India vide circular IDMD.CDD.1100/14.04.050/2021-22 dated October 22, 2021, premature redemption of the gold bonds is permitted after five years from the date of issue of such bonds.
2. Accordingly, the details of tranches falling due for premature redemption during the period April 01, 2024 – September 30, 2024, along with the window available for submission of request for premature redemption by the investors are as under:
|
S No |
Tranche | Issue Date | 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 | ||||
| 1 | 2016-17 Series III | November 17, 2016 | May 17, 2024 | April 16, 2024 | May 7, 2024 |
| 2 | 2016-17 Series IV | March 17, 2017 | September 17, 2024 | August 17, 2024 | September 6, 2024 |
| 3 | 2017-18 Series I | May 12, 2017 | May 12, 2024 | April 10, 2024 | April 30, 2024 |
| 4 | 2017-18 Series II | July 28, 2017 | July 28, 2024 | June 26, 2024 | July 16, 2024 |
| 5 | 2017-18 Series III | October 16, 2017 | April 16, 2024 | March 16, 2024 | April 6, 2024 |
| 6 | 2017-18 Series IV | October 23, 2017 | April 23, 2024 | March 23, 2024 | April 12, 2024 |
| 7 | 2017-18 Series V | October 30, 2017 | April 30, 2024 | March 30, 2024 | April 20, 2024 |
| 8 | 2017-18 Series VI | November 6, 2017 | May 6, 2024 | April 6, 2024 | April 26, 2024 |
| 9 | 2017-18 Series VII | November 13, 2017 | May 13, 2024 | April 12, 2024 | May 3, 2024 |
| 10 | 2017-18 Series VIII | November 20, 2017 | May 20, 2024 | April 20, 2024 | May 10, 2024 |
| 11 | 2017-18 Series IX | November 27, 2017 | May 27, 2024 | April 26, 2024 | May 17, 2024 |
| 12 | 2017-18 Series X | December 4, 2017 | June 4, 2024 | May 4, 2024 | May 24, 2024 |
| 13 | 2017-18 Series XI | December 11, 2017 | June 11, 2024 | May 10, 2024 | June 1, 2024 |
| 14 | 2017-18 Series XII | December 18, 2017 | June 18, 2024 | May 18, 2024 | June 7, 2024 |
| 15 | 2017-18 Series XIII | December 26, 2017 | June 26, 2024 | May 27, 2024 | June 15, 2024 |
| 16 | 2017-18 Series XIV | January 1, 2018 | July 1, 2024 | June 1, 2024 | June 21, 2024 |
| 17 | 2018-19 Series I | May 4, 2018 | May 4, 2024 | April 4, 2024 | April 24, 2024 |
| 18 | 2018-19 Series II | October 23, 2018 | April 23, 2024 | March 23, 2024 | April 12, 2024 |
| 19 | 2018-19 Series III | November 13, 2018 | May 13, 2024 | April 12, 2024 | May 3, 2024 |
| 20 | 2018-19 Series IV | January 1, 2019 | July 1, 2024 | June 1, 2024 | June 21, 2024 |
| 21 | 2018-19 Series V | January 22, 2019 | July 22, 2024 | June 21, 2024 | July 12, 2024 |
| 22 | 2018-19 Series VI | February 12, 2019 | August 12, 2024 | July 12, 2024 | August 2, 2024 |
| 23 | 2019-20 Series I | June 11, 2019 | June 11, 2024 | May 10, 2024 | June 1, 2024 |
| 24 | 2019-20 Series II | July 16, 2019 | July 16, 2024 | June 15, 2024 | July 6, 2024 |
| 25 | 2019-20 Series III | August 14, 2019 | August 14, 2024 | July 15, 2024 | August 3, 2024 |
| 26 | 2019-20 Series IV | September 17, 2019 | September 17, 2024 | August 17, 2024 | September 6, 2024 |
It may, however, be noted that the above-mentioned dates may undergo a change in case of unscheduled holiday/s. Investors are advised to take note of the period for submission of requests for redemption of SGB, in case they choose to redeem their holdings before maturity.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/1945
