Latest news with #SGB
Time of India
5 days ago
- Business
- Time of India
Sovereign Gold Bonds earn over 200% returns: RBI announces redemption price for some SGBs
AI image Sovereign Gold Bond (SGB) redemption: Bought sovereign gold bonds in 2017 or 2018? You are in for good news as the RBI announced the redemption prices for the SGBs, offering a return of over 200%. The Reserve Bank of India (RBI) announced the redemption price for two sovereign gold bond tranches due for premature redemption on July 1. Investors holding the SGB 2017-18 Series-XIV and SGB 2018-19 Series-IV will be getting Rs 9,628 per unit of SGB. Even though the tenure for these gold bonds is 8 years, they allow for premature redemption after the fifth year from the date of issue. Calculating the SGB redemption According to the RBI press release issued on June 30, the redemption price is calculated as the simple average of closing gold price of 999 purity for the previous three business days from the redemption date, as published by the India Bullion and Jewellers Association Ltd (IBJA). For this cycle, the relevant dates were June 26, 27 and 30, ET reported. SGB 2017-18 Series-XIV Those who invested in the SGB 2017-18 Series XIV in January 2018 at Rs 2,831 per gram are getting almost 240% return. SGB 2018-19 Series-IV The SGB 2018-19 Series IV, issued a year later in January 2019 at Rs 3,119 per gram, has yielded an increase of over 208%. This implies that investors would be getting Rs 6,509, in case they chose to opt to withdraw prematurely. This rate does not account for the fixed 2.5% interest offered annually. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Interest offered The bonds carry an interest rate of 2.5% per annum, paid semi-annually. This is credited directly to the investor's bank account and is in addition to the capital appreciation. The final interest payout is made along with the principal on maturity or redemption. How to redeem SGBAs prematurely Identifying the bond tranche by checking the issue date to determine when they become eligible for premature redemption. They should then submit the redemption request before the deadline specified in the schedule to ensure timely processing. Investors will be notified one month in advance about the upcoming maturity of their SGBs. On the maturity date, the proceeds will be directly credited to the bank account registered with the issuing authority. In case there are any changes in personal details such as bank account number or email ID, it is important to promptly update this information with the bank, SHCIL, or post office to avoid any details. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
5 days ago
- Business
- Time of India
Sovereign Bold Bonds earn over 200% returns: RBI announces redemption price for some SGBs
AI image Sovereign Bold Bond (SGB) redemption: Bought sovereign gold bonds in 2017 or 2018? You are in for good news as the RBI announced the redemption prices for the SGBs, offering a return of over 200%. The Reserve Bank of India (RBI) announced the redemption price for two sovereign gold bond tranches due for premature redemption on July 1. Investors holding the SGB 2017-18 Series-XIV and SGB 2018-19 Series-IV will be getting Rs 9,628 per unit of SGB. Even though the tenure for these gold bonds is 8 years, they allow for premature redemption after the fifth year from the date of issue. Calculating the SGB redemption According to the RBI press release issued on June 30, the redemption price is calculated as the simple average of closing gold price of 999 purity for the previous three business days from the redemption date, as published by the India Bullion and Jewellers Association Ltd (IBJA). For this cycle, the relevant dates were June 26, 27 and 30, ET reported. SGB 2017-18 Series-XIV Those who invested in the SGB 2017-18 Series XIV in January 2018 at Rs 2,831 per gram are getting almost 240% return. SGB 2018-19 Series-IV The SGB 2018-19 Series IV, issued a year later in January 2019 at Rs 3,119 per gram, has yielded an increase of over 208%. This implies that investors would be getting Rs 6,509, in case they chose to opt to withdraw prematurely. This rate does not account for the fixed 2.5% interest offered annually. Interest offered The bonds carry an interest rate of 2.5% per annum, paid semi-annually. This is credited directly to the investor's bank account and is in addition to the capital appreciation. The final interest payout is made along with the principal on maturity or redemption. How to redeem SGBAs prematurely Identifying the bond tranche by checking the issue date to determine when they become eligible for premature redemption. They should then submit the redemption request before the deadline specified in the schedule to ensure timely processing. Investors will be notified one month in advance about the upcoming maturity of their SGBs. On the maturity date, the proceeds will be directly credited to the bank account registered with the issuing authority. In case there are any changes in personal details such as bank account number or email ID, it is important to promptly update this information with the bank, SHCIL, or post office to avoid any details. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
5 days ago
- Business
- Business Standard
Gold bonds maturing in July delivering over 200% returns: Check details
The Reserve Bank of India recently declared that the redemption price for Sovereign Gold Bonds 2017-18 Series-XIV and 2018-19 Series-IV, due for premature redemption on July 1 is Rs 9,628 per unit. This price is calculated as the simple average of closing prices of 999-purity gold over the past three business days, June 26, 27, and 30, as published by the India Bullion and Jewellers Association (IBJA). Massive returns for long-term investors These two bond series were issued at much lower prices: -SGB 2017-18 Series XIV: Issued on January 1, 2018, at Rs 2,831 per gram, this gives investors an impressive absolute return of around 240 per cent, excluding interest. -SGB 2018-19 Series IV: Issued on January 1, 2019, at Rs 3,119 per gram, the return here is roughly 209 per cent, or a gain of Rs 6,509 per gram (Rs 9,628 - Rs 3,119). This is in addition to the fixed annual 2.5 per cent interest on the initial investment, which is paid semi-annually and not linked to gold prices. What is premature redemption and how does it work? SGBs have an 8-year maturity period, but investors are allowed to exit early after the fifth year, specifically on interest payout dates. In the current case, July 1, marks such a redemption window. What investors need to do? Check which tranche their SGB belongs to. Submit a premature redemption request before the notified deadline. Ensure bank account and contact details are up to date with the bank, SHCIL (Stock Holding Corporation of India), or the post office. Upon maturity or premature redemption, proceeds are automatically credited to the investor's bank account. No capital gains tax is applicable on redemption, making SGBs more tax-friendly than physical gold.
Malaysian Reserve
6 days ago
- Health
- Malaysian Reserve
Solution Group inks exclusive deal to distribute HPV vaccine Cecolin in Malaysia
SOLUTION Group Bhd (SGB), through its wholly-owned subsidiary Solution Biologics Sdn Bhd (SOLBIO), has signed an exclusive distribution agreement with China-based Xiamen Innovax Biotech Co Ltd (INNOVAX) to register, commercialise and distribute the Cecolin Human Papillomavirus (HPV) vaccine in Malaysia. Under the agreement, SOLBIO will hold exclusive rights to register, import, promote and market Cecolin, a recombinant HPV bivalent vaccine targeting HPV types 16 and 18 – the primary causes of cervical cancer – for women aged 9 to 45 years. The vaccine, produced using Escherichia coli expression technology, has a 36-month shelf life and meets World Health Organization (WHO) prequalification standards. 'This partnership with INNOVAX is a major step forward for SOLBIO in expanding our vaccine portfolio and supporting public health efforts in Malaysia,' said SGB's group CEO Datuk Mohd Nazlee Kamal. 'Cecolin provides a cost-effective and globally recognized solution to HPV prevention, and we are proud to make it accessible to our communities,' he added. 'We believe this partnership will drive greater vaccine accessibility and cervical cancer prevention in the region,' INNOVAX GM Huirong Pan said. The agreement follows a series of discussions between both parties aimed at strengthening healthcare outcomes through access to high-quality, affordable vaccines. — TMR
Time of India
6 days ago
- Business
- Time of India
240% return on Sovereign Gold Bonds: RBI announces redemption price of these SGBs
How is SGB redemption price calculated? What is the redemption price of (SGB) 2017-18 Series-XIV and SGB 2018-19 Series-IV SGB 2017-18 Series XIV SGB 2018-19 Series IV The Reserve Bank of India ( RBI ) has announced the premature redemption price for Sovereign Gold Bonds (SGB) 2017-18 Series-XIV and SGB 2018-19 Series-IV , due today, July 1, 2025, The tenure of gold bonds is 8 years and premature redemption of SGBs is permitted only after the fifth year from the date of to an RBI press release dated June 30, 2025, 'The redemption price of SGB shall be 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 Ltd (IBJA).The redemption price for premature redemption due on July 01, 2025, shall be Rs 9,628 per unit of SGB based on the simple average of closing gold price for the three business days i.e., June 26, June 27, and June 30, SGB 2017-18 Series XIV, issued at Rs 2,831 per gram in January 2018, has yielded a return of nearly 240%.For the SGB 2018-19 Series IV, issued at Rs 3,119 in January 2019, the increase is over 208% if the investor opts for premature particular SGB 2018-19 Series IV was issued at Rs 3,119 per gram in January 2019. So, the absolute return comes to Rs 9,628-3,119= Rs 6,509 (without factoring in the interest). In percentage terms, it comes to Rs {(9628/3119*100} %= 208.69%Note that the above rates exclude the annual 2.5% bonds bear interest at the rate of 2.50% (fixed rate) per annum on the amount of initial investment. Interest will be credited semi-annually to the bank account of the investor and the last interest will be payable on maturity along with the principalInvestors holding SGBs should review the redemption schedule carefully. Some of the Key actions include:a) Identify the tranche to which your bonds belong by checking the issue date. This is the date when the bonds can be redeemed before maturity.b) Ensure that your request for premature redemption is submitted by the deadline mentioned in the investor will be advised one month before maturity regarding the ensuing maturity of the bond. On the date of maturity, the maturity proceeds will be credited to the bank account as per the details on case there are changes in any details, such as bank account numbers and email IDs, then the investor must inform the bank/SHCIL/PO promptly.
