Relevance for Banking, SSC & RBI Grade B exams: Polity & Governance
The Reserve Bank of India announced the final redemption details for the Sovereign Gold Bond (SGB) Scheme, specifically for the SGB 2018-19 Series-III, which matures on November 13, 2026. In accordance with the Government of India’s notification F.No.4(22)-B(W&M)/2018 dated October 08, 2018, these Gold Bonds are repayable eight years from their issue date of November 13, 2018. The redemption price for this tranche has been set at ₹14024/- (Rupees Fourteen Thousand and Twenty-Four only) per unit, calculated based on the simple average of the closing price of 999 purity gold from November 10, November 11, and November 12, 2026, as published by the India Bullion and Jewellers Association Ltd (IBJA).
This information is crucial for Banking, SSC, and RBI Grade B aspirants as it highlights the operational aspects of government financial schemes and their regulatory framework. Understanding the SGB scheme, its redemption mechanism, and the role of institutions like the RBI and IBJA in determining redemption prices, falls under Polity & Governance and financial market knowledge. Such details are frequently tested in exams to assess candidates’ awareness of economic policies, financial instruments, and the functioning of regulatory bodies within the Indian financial system.
Source: RBI
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