State to repay 8.3 per cent of loan issued in 2007

The loan would be repaid with interest due up to and including August 16 and no interest will accrue from and after August 17, it added.

Under the Government Securities Regulations 2007, payment of maturity proceeds will be to the registered holder of government security in the form of subsidiary general ledger or constituent subsidiary general ledger account or stock certificate through a pay order with bank account details or will be credited to accounts wherever electronic means are available, it said. 

Bank details are to be submitted to the bank, treasury, sub treasury or SBI branch for payment of interest, it added. If bank details are unavailable, then holders should hand over their securities to the public debt office 20 days in advance with the securities being tendered with the legend “Received the principal due on the certificate,” the release said. 

Stock certificate securities should be submitted to the SBI branches, where such work is done and not at the treasury. Holders, wanting to receive payment at places other than those where securities are enfaced for payment, should send the discharge certificate to the public debt office by registered post. The debt office will issue a draft payable at any treasury, sub treasury or SBI branch or associate banks conducting treasury work in the state, it added.