What are the SGB Premature Redemption Dates for April 2024 – September 2024?
The Reserve Bank of India (RBI) has provided detailed guidelines for the premature redemption of Sovereign Gold Bonds (SGBs) scheduled between April 2024 and September 2024. Sovereign Gold Bonds, a government security denominated in grams of gold, offer a safe and alternative means of investing in gold without the need to physically hold the metal. While these bonds carry an eight-year tenure, the RBI allows bondholders to opt for premature redemption starting from the fifth year on specified coupon payment dates.
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Understanding Premature Redemption
Investors can opt for premature redemption of their SGBs, provided they adhere to the guidelines set by the RBI. To initiate this process, bondholders must approach their respective banks, SHCIL offices, Post Offices, or agents. It’s important to note that the redemption request must be submitted at least 30 days before the coupon payment date but not later than one day before this date. The redemption amount will be directly credited to the bank account specified by the investor at the time of bond purchase.
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Premature Redemption Schedule
The RBI has outlined a specific schedule for the submission of premature redemption requests for various tranches of SGBs issued from the financial years 2016-17 to 2019-20. Below is a detailed table providing the issue date, date of coupon payment, and the window for submitting redemption requests for each eligible tranche:
| Tranche | Issue Date | Date of Coupon Payment | Window for Redemption Requests |
|---|---|---|---|
| 2016-17 Series III | November 17, 2016 | May 17, 2024 | April 16, 2024 – May 7, 2024 |
| 2016-17 Series IV | March 17, 2017 | September 17, 2024 | August 17, 2024 – September 6, 2024 |
| 2017-18 Series I | May 12, 2017 | May 12, 2024 | April 10, 2024 – April 30, 2024 |
| 2017-18 Series II | July 28, 2017 | July 28, 2024 | June 26, 2024 – July 16, 2024 |
| 2017-18 Series III | October 16, 2017 | April 16, 2024 | March 16, 2024 – April 6, 2024 |
| 2017-18 Series IV | October 23, 2017 | April 23, 2024 | March 23, 2024 – April 12, 2024 |
| 2017-18 Series V | October 30, 2017 | April 30, 2024 | March 30, 2024 – April 20, 2024 |
| 2017-18 Series VI | November 6, 2017 | May 6, 2024 | April 6, 2024 – April 26, 2024 |
| 2017-18 Series VII | November 13, 2017 | May 13, 2024 | April 12, 2024 – May 3, 2024 |
| 2017-18 Series VIII | November 20, 2017 | May 20, 2024 | April 20, 2024 – May 10, 2024 |
| 2017-18 Series IX | November 27, 2017 | May 27, 2024 | April 26, 2024 – May 17, 2024 |
| 2017-18 Series X | December 4, 2017 | June 4, 2024 | May 4, 2024 – May 24, 2024 |
| 2017-18 Series XI | December 11, 2017 | June 11, 2024 | May 10, 2024 – June 1, 2024 |
| 2017-18 Series XII | December 18, 2017 | June 18, 2024 | May 18, 2024 – June 7, 2024 |
| 2017-18 Series XIII | December 26, 2017 | June 26, 2024 | May 27, 2024 – June 15, 2024 |
| 2017-18 Series XIV | January 1, 2018 | July 1, 2024 | June 1, 2024 – June 21, 2024 |
| 2018-19 Series I | May 4, 2018 | May 4, 2024 | April 4, 2024 – April 24, 2024 |
| 2018-19 Series II | October 23, 2018 | April 23, 2024 | March 23, 2024 – April 12, 2024 |
| 2018-19 Series III | November 13, 2018 | May 13, 2024 | April 12, 2024 – May 3, 2024 |
| 2018-19 Series IV | January 1, 2019 | July 1, 2024 | June 1, 2024 – June 21, 2024 |
| 2018-19 Series V | January 22, 2019 | July 22, 2024 | June 21, 2024 – July 12, 2024 |
| 2018-19 Series VI | February 12, 2019 | August 12, 2024 | July 12, 2024 – August 2, 2024 |
| 2019-20 Series I | June 11, 2019 | June 11, 2024 | April 12, 2024 – May 3, 2024 |
| 2019-20 Series II | July 16, 2019 | July 16, 2024 | June 15, 2024 – July 6, 2024 |
| 2019-20 Series III | August 14, 2019 | August 14, 2024 | July 15, 2024 – August 3, 2024 |
| 2019-20 Series IV | September 17, 2019 | September 17, 2024 | August 17, 2024 – September 6, 2024 |
(Note: The table above provides a sample from the full list of tranches eligible for premature redemption between April 2024 and September 2024. Investors are advised to consult the RBI’s official website or contact their banks for the complete schedule.)
Conclusion
The RBI’s provision for the premature redemption of Sovereign Gold Bonds offers flexibility to investors seeking liquidity or looking to manage their investment portfolio more dynamically. By adhering to the specified schedule, investors can efficiently plan their redemption requests and ensure the seamless processing of their transactions. This initiative underscores the RBI’s commitment to providing investor-friendly options within the framework of government securities.
