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TMI BlogREPAYMENT OF 8% SAVINGS(TAXABLE)BONDS,2003X X X X Extracts X X X X X X X X Extracts X X X X ..... I (copy enclosed). The advices to the holders should be sent by Registered / Speed Post. It should be ensured that the advices are sent only in respect of BLAs which are free from stoppage. 2. Post Maturity Interest: As stated in Para 15 of our Loan Circular dated April 3, 2003 the bonds shall be repayable on expiry of six years from the date of issue. No interest would accrue after the maturity of the bond. We, therefore, advise you to intimate to the investors that the investment does not carry Post Maturity Interest, prominently in the above advices. 3. Discharge of Certificates by the investors (i) As per Regulation 24 (2) (b) of Government Securities Regulations, 2007, (copy of which was forwarded to you vide our letter DGBA.CDD.H- 6289/11.29.002/2007-08 dated December 7, 2007) payment of maturity proceeds to the registered holder of a Government Security, held in the form of BLA shall be made by pay order or by credit to the account of the holder in any bank having facility of receipt of funds through electronic means. For this purpose, in terms of Regulations 24(2) (d) bond holders are required to submit relevant particulars of their bank account to the Agenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by post) so as to reach the holder at least one day in advance and for senior citizens, three days in advance. The payment order may be despatched by speed/registered post. 6. Interest payments: As regards investments held under non-cumulative scheme, the interest for the broken period/last half-year should be paid along with the principal, if bank account details are available or duly discharged bond is submitted well in advance. If bank account details are not available or duly discharged bond is not submitted well in advance by the investor, then the interest warrants for the broken period/last half-year pertaining to such investments should be despatched on the due date of maturity. While dispatching such interest warrants of matured investments, the covering letter addressed to the investor should invite his attention to maturity intimation advice issued in terms of para 1 above and indicate that the investment has matured on the specific date. As regards payment of interest on investments held under cumulative scheme, interest on bond should be paid along with the principal. The advices to the investors should invariably contain the legend "Interest will not accrue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Act, 2006 and Government Securities Regulations, 2007. In case of any specific doubts or queries on the above, the designated banks / branches may please contact the PDO of jurisdiction. 14. Please acknowledge receipt and monitor compliance. Yours faithfully, sd/- (K.R.K. Reddy) Assistant General Manager Encls: as above. ANNEXURE I On letterhead of the Agency bank Ref. No. …………………………… Date: To, (Investor's name and address) Madam / Dear Sir, Repayment of 8 % Savings (Taxable) Bonds, 2003 We advise that the investment(s) made by you under the captioned scheme is/are due for repayment on maturity as shown below: BLA No. Date of Investment Date of Maturity Principal Interest Total Amount Grand Total: 2. In terms of Regulation 24 of the Government Securities Regulations, 2007, if bank account details are already furnished by the investors, the above i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... * Strike out if not applicable. ACQUITTANCE Received from (Name of designated bank / branch) Rs. (Rupees-------------------------------------------------------------------------------------------only), being the principal amount with accrued interest due on 8 % Savings (Taxable) Bonds, 2003 against my /our BLA as per details given above. No. Name (s) Income Tax PAN (If amount exceeds Rs. 1 lakh) i. ii. iii. Place: Date: (Revenue Stamp) Signature(s) ANNEXURE 1B Electronic Clearing Service (Credit Clearing) Mandate Form (Investor(s) option to receive redemption proceeds/interest payments through Electronic Credit Clearing Mechanism) 1) Investor name(s) : 2) (a) BLA No. : (b) PAN/GIR No.* : (c) Telephone No./Mobile No./E-mail ID : 3) Particulars of Bank account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion No. F. 4 (10) - W M / 2003 dated March 21, 2003 will start maturing for repayment with effect from April 21, 2009. The holders may note that "no interest would be payable on the Bonds after maturity". 2. As per sub-regulations 24 (2) (b) and 24 (3) of Government Securities Regulations, 2007, payment of maturity proceeds to the registered holder of a Government security, held in the form of Bond Ledger Account (BLA) 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. To facilitate repayment of the above bonds on the due dates, holders of BLAs may furnish the relevant particulars of their bank account to the issuing offices well in advance so that the automatic redemption of BLAs can be made on due date without requiring to give any discharge upon the security / Annexure 1A. Holders may, therefore, submit the relevant particulars of their bank account for automatic redemption of the maturity value on the due date. However, in the absence of relevant particulars of bank account / mandate for receipt of funds through electron ..... X X X X Extracts X X X X X X X X Extracts X X X X
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