Repayment of 6.07% Loan 2014 on May 15, 2014, GoI Floating Rate Bonds 2014 on May 20, 2014 and 10.00% Government Stock 2014 on May 30, 2014 respectively- issue of Press Communique.

Information Type: Legislative Information
Subject: Financial Law
News Title: Repayment of 6.07% Loan 2014 on May 15, 2014, GoI Floating Rate Bonds 2014 on May 20, 2014 and 10.00% Government Stock 2014 on May 30, 2014 respectively- issue of Press Communique.
News Date: 2014-05-15
News Laws: Repayment of 6.07% Loan 2014 on May 15, 2014
News State: Central
Case Note / Description :

The outstanding balance of 6.07% Government Stock 2014, GoI Floating Rate Bonds, 2014 and 10.00% Government Stock, 2014 are repayable at par on May 15, 2014, May 20, 2014 and May 30, 2014 respectively. No interest will accrue there on from the said dates. In the event of a holiday being declared on May 15, 2014, May 20, 2014 or on May 30, 2014 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. 2. 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 a Government Securities, shall submit the relevant particulars of their bank account well in advance.

 
 
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