The outstanding balance of ‘8.20% OIL MKTG COS GOI SB 2024’ is repayable at par on February 12, 2024. No interest will accrue thereon from the said date. In the event of a holiday being declared on repayment day 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 Security held in the form of Subsidiary General Ledger or Constituent Subsidiary General Ledger account or Stock Certificate, shall be made by a 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 (at which they are enfaced / registered for payment of interest) 20 days in advance of the due date for repayment.

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

Repayment at par for matured government security with electronic credit or pay order; bank mandates required or tender securities early. Repayment of the outstanding balance of the security is repayable at par on maturity with no interest thereafter; if a State Government holiday is declared under the Negotiable Instruments Act, repayment in that State occurs on the previous working day. Maturity proceeds to registered holders in SGL/CSGL or by stock certificate will be paid by pay order or electronic credit under the Government Securities Regulations, 2007. Holders must submit bank account particulars or an electronic mandate in advance, or, lacking these, tender discharged securities at designated paying offices twenty days before the due date.