The outstanding balance of ‘8.40% GS 2024’ is repayable at par on July 26, 2024 (July 28, 2024 being a Sunday and July 27, 2024 being a non-working Saturday). 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 of government security: maturity paid at par with electronic credit required; alternative in-person tender permitted. Repayment of the 8.40% government security is at par on the maturity date and interest stops thereafter; if the repayment day is a weekend or a State-declared holiday under the Negotiable Instruments Act, payment is made on the preceding working day. Maturity proceeds for holders in Subsidiary General Ledger, Constituent Subsidiary General Ledger or Stock Certificate form must be paid by electronic credit or pay order per sub-regulations 24(2) and 24(3) of the Government Securities Regulations, 2007, and holders must submit bank account particulars in advance; absent those particulars, holders may tender discharged securities at designated paying offices twenty days before the due date.