New Delhi [India], Investors in the Sovereign Gold Bond (SGB) Scheme of Series III 2017-18 have been allowed early redemption by the Reserve Bank of India. The next redemption date for SGB 2017-18 Series II has been set by RBI as April 16, 2024. RBI press statement said that on the basis of average closing, the initial redemption price has been fixed at R 7260/- per unit of SGB. Gold price in the last three business days The Government of India, in line with the Sovereign Gold Bond Scheme Regulation, allows premature redemption of Gold Bonds after the fifth year from the date of issue. This redemption option aligns with the date on which interest is payable. The bond redemption price is calculated based on the simple average of the closing gold price for three business days before April 16, 2024, as published by the India Bullion and Jewelers Association Limited (IBJA), Sovereign Gold Bond Scheme, Was started under. Government Securities Act, 2006, to give investors the option of a structured opportunity to invest in gold, various entities including individuals, trusts, charitable institutions, universities were allowed to invest in the scheme. The denomination of the bonds was in units of one Grams of gold or multiples thereof with a minimum subscription limit of one gram. Individuals were allowed to opt for up to 4 kg per financial year, while trusts and similar entities were given a higher limit of 20 kg. Premature redemption option provides investors the flexibility to liquidate their investment before the maturity date, if required. Pre-mature encashment option along with other benefits such as interest payments and tax benefits have made the Sovereign Gold Bond Scheme an attractive investment opportunity for individuals and institutions looking to diversify their portfolio with gold-backed securities.