logo
SGB's 2017 tranche gives 225% returns on early exit. Check next premature redemption date

SGB's 2017 tranche gives 225% returns on early exit. Check next premature redemption date

Investors in SGB 2017-18 Series X earned a 225% return on premature redemption, receiving ₹9,630 per gram against the issue price of ₹2,961. The gain combines gold's appreciation, tax-free profits, and strategic asset flexibility.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Holders of Sovereign Gold Bonds (SGB 2017-18) Series X earned handsome gains of Rs 6,669 or 225% per gram of gold on premature redemption. It was issued on December 4, 2017 at a price of Rs 2,961 per gram.The window for premature redemption was open between May 5 and May 26 when the investors could submit the request to the receiving offices/NSDL/CDSL/RBI Retail Direct.On October 6, 2017, the government had informed about issuing (SGB 2017-18 Series X).The premature redemption of gold bonds is permitted after the fifth year from the date of issue of the gold bond on the date on which interest is payable.The redemption price of SGB is based on the simple average of closing gold price of 999 purity of previous three business days from the date of redemption, as published by the India Bullion and Jewellers Association (IBJA).In this case, the redemption price for premature redemption was Rs 9,630 per gram based on the simple average of closing gold price for the three business days i.e., May 30, June 2, and June 3, 2025.The next premature redemption date is June 11 for SGB 2017-18 Series XI and SGB 2019-20 Series I.The dates for submitting the request for premature redemption by the investors was between May 9 and June 2 for both the series.SGB premature redemption is a useful exit strategy if the investor is looking to book tax-free capital gains , access funds without waiting 8 full years or rebalance his asset allocationIt combines the benefits of government security, gold exposure and tax efficiency.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Vendors told to shift to new Morhabadi market building
Vendors told to shift to new Morhabadi market building

Time of India

time13 minutes ago

  • Time of India

Vendors told to shift to new Morhabadi market building

Ranchi: The municipal corporation (RMC) on Tuesday formally sent notification to 161 selected vendors asking them to shift to the newly constructed vendor market near the Morabadi electricity office at the earliest. Additional municipal commissioner Sanjay Kumar said, "All allottees are to ensure the timely setup of their shops at the assigned stalls or platforms." He added, "The allotment was conducted with full transparency. Vendors who couldn't be allotted due to document issues can reapply during the second phase." The new market, built at a cost of Rs 1.36 crore with capacity to house 218 vendors, marks a push by the Ranchi Municipal Corporation to decongest footpaths and bring order to the vending ecosystem. Initially, 418 applied in April, out of which 169 were shortlisted based on eligibility, including PM SVANidhi registration and vendor IDs issued before March 5, 2022.

Bank fraud case: Court rejects plea of accused to take part in trial without bail
Bank fraud case: Court rejects plea of accused to take part in trial without bail

Time of India

time13 minutes ago

  • Time of India

Bank fraud case: Court rejects plea of accused to take part in trial without bail

Kanpur: Special Judge Companies Act Azad Singh on Tuesday rejected the plea of two accused who sought permission to appear and participate in the trial of Rs 7,820 crore bank fraud case without seeking bail. Tired of too many ads? go ad free now The judicial official not only dismissed their application but also ordered that a date be fixed every week in the case. June 17 has been fixed as the next date of hearing. The accused applicants, Sunil Verma and Anoop Kumar Verma, had submitted an application before the court to allow their participation in the trial. Kaushal Kishore Sharma, special prosecutor for the case, strongly opposed the plea, stating that without obtaining bail they can not be allowed to participate in the proceedings. The Companies Act contains special provisions regarding bail, which override those in the Cr PC. Consequently, the judicial official dismissed the application and fixed June 17 as the next date of hearing. Sharma stated that the Serious Fraud Investigation Office had lodged a complaint against 69 accused on behalf of several banks in bank fraud amounting to Rs 7,820 crore. Some name and famed persons of the city were also implicated in the case while as many as 20 accused were residing abroad and their files had been separated from the main case. Sharma mentioned that the court had already issued a non-bailable warrant against the accused, Satish Chandra Gupta, who is living abroad. The two accused Sunil Verma and Anoop Kumar Badhera had approached the apex court, where an order was passed that no coercive action should be taken against them, although their application is still pending. On Monday last, they moved an application before the court, which was dismissed. Tired of too many ads? go ad free now One of the accused, Vikram Kothari, has died, while others such as Rahul Kothari, builder Vishwanath Gupta, industrialist Suyash Desari and others have obtained bail orders in their favour from the apex court. The special prosecutor added that both accused have also applied for permission to travel abroad, and the court has reserved its order on that prayer. Speaking with TOI, the special prosecutor stated that the accused had formed a company for mercantile trading. They acquired a letter of credit from a bank, claiming that the company would purchase rice from one country and sell it in another. However, they used the funds for personal gains and only displayed sales and purchases on paper. The corporate ministry detected the nexus and ordered the Serious Fraud Investigation Office to lodge a complaint in the Companies Act court in 2020. Kanpur has the Companies Act court, which is the only one in Uttar Pradesh.

Six firms booked for cheating medical device company of 2.23cr
Six firms booked for cheating medical device company of 2.23cr

Time of India

time13 minutes ago

  • Time of India

Six firms booked for cheating medical device company of 2.23cr

Surat: Vesu police have registered a case of cheating against the proprietors of six firms from various states for allegedly duping a Surat-based medical device manufacturing company of Rs 2.23 crore. The case was filed following a complaint by Chintan Kapadiya, director of Envision Scientific Pvt Ltd. According to the complaint, Envision Scientific and its associate company, Concept Medical Research Pvt Ltd, supplied medical devices to the six accused firms over the past seven years. Despite repeated notices, emails and payment reminders, the firms allegedly failed to clear their dues. The companies named in the FIR include: Sakshi Enterprise (Raipur, Chhattisgarh), Bright Cardio Care (Perambalur, Tamil Nadu), SVR Medical Technologies (Thane), Meditree Health Solutions (Hyderabad), Hindustan Enterprises (Ranchi), Infinite Medical Solutions (Mumbai). The products supplied included a range of medical devices such as Albuminous, Mitigator, Nostrum and MagicTouch, among others. Kapadiya stated that both Envision Scientific and Concept Medical, which also operates a manufacturing unit in the Sachin industrial area, have faced continuous delays and non-payment from these firms, despite fulfilling all delivery obligations. Vesu police have booked all six firms under relevant sections of the IPC for cheating and initiated an investigation into the matter.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store