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Investors in Sovereign Gold Bonds (SGB) 2015-16 Tranche I will get bumper returns, going by the redemption price set by the Reserve Bank of India.
The central bank on Thursday said the redemption price for the early redemption of SGB Tranche I, issued in November 2015, will be ₹4,837 per unit of SGB.
This translates into an appreciation of about 80 per cent over the issue price of ₹2,684 per unit of SGB.
The Centre had come up with the SGB scheme in 2015. It issued a Gazette Notification on it on October 30, 2015.
The RBI, in a statement, said the redemption price for the early redemption due on May 30 shall be ₹4,837 per unit of SGB and payable on May 29.
As per the terms and conditions of the issuance of Sovereign Gold Bonds, 2015-16, the bonds shall be repayable on the expiration of eight years from the date of issue.
Pre-mature redemption of the bond is allowed from fifth year of the date of issue on the interest payment dates.
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