Repayment of ‘6.65% FERT CO GOISPL BOND 2023’
The outstanding balance of ‘6.65% FERT CO GOISPL BOND 2023’ is repayable at par on January 27, 2023 (28th and 29th January 2023 being holidays on account of Saturday and Sunday). There won’t be any interest from that date on. Any holiday declared by the Government of a State on repayment day under the Negotiable Instruments Act, 1881 will result in the Loan/s being repaid on the previous working day.
According to sub-regulations 24(2) and 24(3) of Government Securities Regulations, 2007, maturity payments are made to registered holders of government securities that are held in Subsidiary General Ledger or Constituent Subsidiary General Ledger accounts or Stock Certificates. In any bank that accepts electronic funds, the holder’s account will be credited by a pay order incorporating the relevant information about his bank account. To make payments on Government Securities, the original subscriber or the subsequent holders have to submit their bank account details 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 (at which they are enfaced/registered for payment of interest) 20 days in advance of the due date for repayment.
Details about how to get your discharge value can be obtained from the payment offices.
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