Notice is hereby given for the general awareness that the outstanding balance of the 9.65% Tamil Nadu State Development Loan (SDL), 2024, issued pursuant to the Government of Tamil Nadu, Finance Department Notification No.262(L)/W&M-II/2014, dated March 07, 2014, will be repaid at its nominal value on March 12, 2024, along with accrued interest up to and including March 11, 2024. In the event of a public holiday declared by any State Government on the mentioned date under the Negotiable Instruments Act, 1881, repayment will be processed by the relevant offices in that State on the preceding working day. Please note that no interest will be accumulated on the loan beyond March 12, 2024. This Notification was published on 12.02.2024.
Government Securities Regulations, 2007, the maturity proceeds for registered holders of Government Securities held in Subsidiary General Ledger, Constituent Subsidiary General Ledger accounts, or Stock Certificates will be disbursed through a pay order containing the necessary details of the holder’s bank account or via direct credit to their bank account in a bank capable of receiving electronic funds. To facilitate payment, original subscribers or subsequent holders of such Government Securities must provide their bank account details to the relevant Bank, Treasury, Sub-Treasury, or State Bank of India branch where they are registered for interest payment. In the absence of bank account details or electronic funds receipt mandate, holders of 9.65% Tamil Nadu SDL 2024 securities are required to submit their securities at the Public Debt Office at least 20 days before the due date for repayment. The securities must be submitted for repayment, duly endorsed on the reverse side with the acknowledgment: “Received the Principal due on the Certificate.” It is important to note that in locations where treasury operations are managed by a State Bank of India branch, securities in the form of Stock Certificates should be submitted at the respective bank branch and not at the Treasury or Sub-Treasury. Holders wishing to receive payment at locations other than where the securities are registered for payment should send them duly endorsed to the relevant Public Debt Office via Registered and Insured Post. The Public Debt Office will facilitate payment by issuing a draft payable at any Treasury/Sub-Treasury or State Bank of India branch conducting Government Treasury operations in the State of Tamil Nadu.
