RBI Announce Premature Redemption Details Of SGB 2017-18 Series XII

The redemption price for this SGB is Rs 7,165, calculated based on the simple average of the closing gold price (999 purity) on the three previous business days from the redemption date, as reported by the India Bullion and Jewellers Association Ltd (IBJA).To make a premature withdrawal of an SGB, a request must be submitted to the regional office (RO) or depository at least 10 days before the interest payment falls due. The request will be reviewed for accuracy and have to be submitted to the RBI via the E-Kuber Portal at least four days before the interest due date, as per the RBI release.For investments held outside of a demat account, premature redemption procedures can be processed through a bank, SHCIL, post office, or agent if the investor applies within a window of 30 days but at a minimum of one day before the scheduled premature redemption date.

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