Government securities to be repaid on June 28

HYDERABAD: The outstanding balance of 7.90 percent of Andhra Pradesh State Development Loan-2012 issued by the finance department will be repaid at par on June 28 with interest due up to and including June 27.In the event of a holiday being declared on the aforesaid date by the state government under the Negotiable Instruments Act, 1881, the loan will be repaid by the paying officers in that state on the previous working day.No interest will accrue on the loan from and after June 28, according to principal secretary (finance) Pushpa Subhramanyam.As per 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 should be made by a pay order incorporating the relevant particulars of his bank accounts 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 government securities should submit to the bank or treasury and sub-treasury or branch of SBI or its subsidiary banks where they are enfaced, registered for payment of interest.However in the absence of relevant particulars of bank account, mandate for receipt of funds through electronic means to facilitate repayment of the due date, holders of 7.90 percent, Andhra Pradesh State Development Loan-2012 should tender their securities at the Public Debt Office 20 days in advance, the securities should be tenders for repayment, duly discharged on the reverse there of as under: ‘‘Received the principal due on the certificate’.Holders who wish to receive payment at places other than those where the securities have been enfaced for payment should send them duly discharged to the Public Debt Office concerned by registered and insured post.The Public Debt Office will make payment by issuing a draft payable at any treasury, sub-treasury work in Andhra Pradesh.