It is hereby announced for public awareness that the outstanding balance of the 9.63% Tamil Nadu SDL, 2024, as per the provisions of the Government of Tamil Nadu, Finance Department, Notification No.264(L)/W&M-II/2014, dated April 04, 2014, shall be repaid at face value on April 10, 2024, inclusive of interest accrued up to and including April 09, 2024. Should any State Government declare April 10, 2024, as a public holiday under the Negotiable Instruments Act, 1881, repayment shall occur on the preceding working day as per the directive of the paying offices in that State. Interest on the loan shall cease to accrue from April 10, 2024, onwards. This Notification was published on 11.03.2024.
Pursuant to sub-regulation 24(2) and 24(3) of the Government Securities Regulations, 2007, disbursement of maturity proceeds to the registered holder of Government Security maintained in the form of Subsidiary General Ledger or Constituent Subsidiary General Ledger account or Stock Certificate shall be facilitated through a pay order containing relevant details of the holder’s bank account or through direct credit to the holder’s account in any bank equipped with electronic fund reception capabilities. For the purpose of effecting payment concerning such securities, the original subscriber or subsequent holders thereof shall furnish the pertinent particulars of their bank account to the Bank, Treasury, Sub-Treasury, or State Bank of India branch, where they are enlisted for interest payment, as applicable. Nonetheless, in the absence of requisite bank account details/mandate for electronic fund receipt, to ensure timely repayment on the stipulated date, holders of 9.63% Tamil Nadu SDL 2024 are advised to present their securities at the Public Debt Office, 20 days before maturity. The securities must be submitted for repayment, duly endorsed on the reverse side as follows: “Acknowledged receipt of the Principal due on the Certificate. “It is essential to note that in areas where treasury operations are managed by a branch of the State Bank of India, Stock Certificates, if held, should be tendered at the respective bank branch and not at the Treasury or Sub-Treasury. Holders desiring payment at locations other than those designated for repayment of securities should dispatch 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 transactions in the State of Tamil Nadu.
