Press Information Bureau

Government of India

Ministry of Finance

11-May-2012 14:43 IST

Repayment of 10.25% Government Stock, 2012

The outstanding balances of 10.25 % Government Stock, 2012 is repayable at par on June 01, 2012 and no interest will accrue there on from the said date.  In the event of a holiday being declared on June 01, 2012 by any State Government under the Negotiable Instruments Act, 1881, the Loan will be repaid by the paying offices in that State on the previous working day.

As per sub-regulation 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 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.

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DSM/SS/GN

Repayment of Government Stock at par: payment via bank credit or pay order; submit bank mandate or tender securities in advance. Outstanding 10.25% Government Stock, 2012 is repayable at par on maturity and interest ceases thereafter. If a holiday under the Negotiable Instruments Act falls on the maturity date, repayment in that State will be made on the previous working day. Maturity proceeds to registered holders in SGL/CSGL or Stock Certificate form shall be paid by pay order with bank particulars or by credit to an account able to receive electronic funds under sub-regulations 24(2) and 24(3) of the Government Securities Regulations, 2007. Absent bank particulars, holders may tender discharged securities at designated paying offices twenty days before maturity.