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| PUNJAB GOVT. GAZ. (EXTRA), JULY 23, 2021 (SRVN 1, 1943 SAKA) | ||
EXTRAORDINARY
Published by Authority
CHANDIGARH, FRIDAY, JULY 23, 2021 (SRAVANA 1, 1943 SAKA)
GOVERNMENT OF PUNJAB
DEPARTMENT OF FINANCE
(FINANCE BUDGET-II BRANCH)
PRESS COMMUNIQUE
The 23rd July, 2021
No. 7/2/2021-2FBII/I/216198/2021.-It is notified for general information that the outstanding balance 7.49% Punjab State Development Loan, 2021 issued in terms of the Government of Punjab, Finance Department Notification No. 7/2/2016-2 FBII/1067dated August 19, 2016 will be repaid at par on August 24, 2021 with interest due up to and including August 23, 2021. In the event of a holiday being declared on the aforesaid date by any State Government under the Negotiable Instruments Act, 1881, the loan will be repaid by the paying offices in that State on the previous working day. No interest will accrue on the loan from and after August 24, 2021.
2. As per sub- regulation 24 (2) and 24(3) of 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 shall be made by a pay order incorporating the relevant particulars of his bank account 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 a Government Securities, as the case may be, shall submit to the Bank or Treasury and Sub-Treasury or branch of State Bank of India where they are enfaced / registered for payment of interest, as the case may be, the relevant particulars of their bank account.
3. However, in the absence of relevant particulars of bank account/ mandate for receipt of funds through electronic means, to facilitate repayment on the due date, holders of 7.49% Punjab State Development Loan, 2021, should tender their securities at the Public Debt Office, 20 days in advance. The securities should be tendered for repayment, duly discharged on the reverse there of as under:-
"Received the Principal due on the Certificate".
4. It should be particularly noted that at places where the treasury work is done by a branch of the State PUNJAB GOVT. GAZ. (EXTRA), JULY 23, 2021 (SRVN 1, 1943 SAKA) 2941 Bank of India, the securities, if they are in the form of Stock Certificates, should be tendered at the branch of the bank concerned and not at the Treasury or Sub-treasury. 5. 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 or branch of State Bank of India conducting Government Treasury work in the State of Punjab.
Sd/-
(KAP SINHA) I.A.S.,
Principal Secretary to Government of Punjab,
Department of Finance.