Investors holding the 9.02% Tamil Nadu State Development Loan (SDL) 2024 are informed about the forthcoming repayment process, ensuring a seamless transaction without any interest accruing after August 13, 2024. As per Government of Tamil Nadu guidelines, repayment will occur at par on August 13, 2024, inclusive of interest up to August 12, 2024. In the event of a holiday, repayment will be processed on the previous working day. This notification was published on July 12, 2024.
For holders with securities in the form of a subsidiary general ledger, constituent subsidiary general ledger, or stock certificate, payments will be facilitated via pay order or direct credit to a designated bank account. To facilitate timely repayment, holders without registered bank account details must submit their securities to the Public Debt Office 20 days prior to the due date, duly discharged.
Special instructions apply where State Bank of India branches manage Treasury functions, requiring securities to be tendered directly. For holders opting to receive payments elsewhere, sending discharged securities via registered and insured post to the relevant public debt office is advised, ensuring the issuance of a draft payable at designated locations.
This process ensures efficient and secure repayment, adhering to regulatory standards, and investor convenience.
