Now Reading: RBI Sets SGB 2020-21 Series XI Premature Redemption at Rs 14,564
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RBI Sets SGB 2020-21 Series XI Premature Redemption at Rs 14,564
The Reserve Bank of India has fixed the premature redemption price for Sovereign Gold Bond 2020-21 Series XI at Rs 14,564 per unit. Redemption is due on August 7, 2026, as August…
The Story in Brief
The Reserve Bank of India has fixed the premature redemption price for Sovereign Gold Bond 2020-21 Series XI at Rs 14,564 per unit. Redemption is due on August 7, 2026, as August 8 and 9 are holidays. The bond was issued on February 9, 2021.
Under the scheme, premature redemption is permitted after five years from the issue date, on an interest payment date. The price uses the simple average of gold’s closing price for 999 purity over the previous three business days, as published by the India Bullion and Jewellers Association. The calculation used prices from August 4, 5 and 6, 2026.
The Indian Opinion
The announced price is not a promise of profit, nor proof that gold is always a safer choice. Claims that the RBI has picked a special rate overlook the stated formula, while blanket calls to redeem ignore each investor’s tax position, cash needs and remaining holding period. The useful check is simple: compare Rs 14,564 with the bond’s purchase price and account for interest already received before deciding.
Source: rbi.org.in
This story was synthesised by AI from the source linked above.
