The outstanding balance of Government of India-Floating Rate Bonds 2016 is repayable at par on May 07, 2016. No interest will accrue there-on from the said dates. In the event of a holiday being declared on May 07, 2016 by any State Government under the Negotiable Instruments Act, 1881, the Loan/s will be repaid by the paying offices in that State on the previous working day.

As per sub-regulations 24 (2) and 24(3) of Government Securities Regulations, 2007 payment of maturity proceeds to the registered holder of Government Securities held in the form of Subsidiary General Ledger or Constituent Subsidiary General Ledger account or Stock Certificate shall be made by pay order incorporating the relevant particulars of his bank account or by credit to the account of the holder in any bank having facility of receipt of funds through electronic means. For the purpose of making payment in respect of the securities, the original subscriber or the subsequent holders of such Government Securities, shall submit the relevant particulars of their bank account well in advance.

However, in the absence of relevant particulars of bank account / mandate for receipt of funds through electronic means, to facilitate repayment of the Loan on the due date, holders may tender the securities, duly discharged, at the Public Debt Offices, Treasuries / Sub-Treasuries and branches of State Bank of India and its Associate Banks (at which they are enfaced / registered for payment of interest) 20 days in advance of the due date for repayment.

Full details of the procedure for receiving the discharge value may be obtained from any of the aforesaid paying offices.

Repayment of floating rate bonds: repayable at par on maturity with mandatory bank mandate or tendering procedure for payment. Repayment of Government of India Floating Rate Bonds 2016 is scheduled at par on May 07, 2016 with no interest accruing thereafter; if a state holiday under the Negotiable Instruments Act falls on that date, repayment will be made on the previous working day. Payment of maturity proceeds will be made by pay order with bank account particulars or by electronic credit to accounts able to receive electronic funds; holders must submit bank particulars in advance or, absent those particulars, tender discharged securities at designated paying offices twenty days before maturity to facilitate repayment.