The Reserve Bank of India (RBI) has announced that the premature redemption price for Sovereign Gold Bond (SGB) 2019-20 Series X will be ₹15,328 per unit. The redemption is due on September 11, 2026, according to an RBI press release issued on September 10.

SGB 2019-20 Series X was issued on March 11, 2020, under the Sovereign Gold Bond Scheme. The RBI said the next date for premature redemption of this tranche falls on September 11, 2026.

Eligibility for premature redemption

Under the Government of India notification dated September 30, 2019, premature redemption of a Gold Bond may be permitted after the completion of the fifth year from its issue date. Such redemption is allowed on the date on which interest is payable.

The September 11 date therefore applies to the 2019-20 Series X tranche issued on March 11, 2020. The RBI’s announcement concerns the redemption price applicable to that scheduled premature redemption date.

How the redemption price was calculated

The redemption price has been fixed at ₹15,328, or fifteen thousand three hundred and twenty-eight rupees, for each SGB unit. The price is based on the simple average of the closing prices of gold of 999 purity for the three business days preceding the redemption date.

Those three business days were September 8, September 9 and September 10, 2026. The relevant gold prices were published by the India Bullion and Jewellers Association Ltd (IBJA), as specified under the redemption process.

The pricing method links the premature redemption value to the average market closing price of 999-purity gold over the prescribed three-day period. The RBI used that calculation to determine the amount payable per unit for the September 11 redemption.

The announcement was issued as RBI Press Release 2026-2027/1091. It was signed by Ajit Prasad, Deputy General Manager in the RBI’s Communications department.

The release relates specifically to SGB 2019-20 Series X and does not state a redemption price for other Sovereign Gold Bond tranches. The announced amount of ₹15,328 per unit applies to the premature redemption due on September 11, 2026.