Does anyone know what is the procedure of exercising my exit option on SGB after 5 years ? (i.e. I choose to sell the SGB back to the govt. and not interested in selling in the secondary market).
https://m.rbi.org.in/Scripts/FAQView.aspx?Id=109
pls read this article its by RBI hope this solves your query
Where did you buy them from?
From Zerodha’s platform in 2017.
Ask them. They will guide you…
Now thats a different story, I bought from Zerodha when they didn’t have DP services. They had a partnership with ISSL, which held demat accounts on Zerodha’s behalf. ISSL is a DP of NSDL while Zerodha is a DP of CDSL. So my SGB is still with them, because interdepository transfer of SGB is not possible and that account has become inactive now. So thats the problem.
Interdepository transfer of SGB is possible. I have transferred my sgb bonds from ICICI direct (NSDL DP) to Zerodha (CDSL DP). You need to instruct your current DP to remat the bonds and simultaneously instruct the new DP to demat them. Transfer charges are applicable @ current value of bonds and vary from one DP to another. To minimize these charges you need to give closure cum transfer instructions to your existing DP i.e you should close the current DP and transfer all securities to new DP
But brother, How can this procedure be done simultaneously when I have to deal with two different Depository Participants ?
Give the demat and remat instructions the same day to both DP’s. It worked in my case