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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 ..... ices 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 Agency banks. This regulation in effect obvi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce 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 on the investment after ----/ ----/ ---- (date of maturity)". 7. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es 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 investment/s will be automatically redeemed and proceeds will be credited to your bank account on the maturity date through electronic mode. No separate application/discharge and submission of original Certificate of Holding is required for seeking repayment. 3. Those investors who have not furnished bank account details are requested to furnish the same as per the mandate form enclosed (ANNEXURE 1B) duly fille ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r name(s) : 2) (a) BLA No. : (b) PAN/GIR No.* : (c) Telephone No./Mobile No./E-mail ID : 3) Particulars of Bank account A Name of the Bank : B Name of the branch : Address : Telephone No : C 9-Digit code number of the bank and branch appearing on the MICR cheque issued by the bank : D Type of the account (Savings, Current or Cash Credit) with code (10/11/13) : E Ledger and Ledger folio number : F Account number (as appearing on the cheque book) : (In lieu of the bank certificate to be obtained as under, please attach a blank cancelled cheque or photocopy of a cheque or front page of your savings bank passbook issued by your bank for verification of the above particulars) 4) Date of effect : I/we hereby declare that the particulars given above are correct and complete. If the transaction is delayed or not effected at all for reasons of incomplete or incorrect information, I/we would not hold the user institution responsible. I/we have read the option invitation letter and agree to discharge the responsibility expected of me/us as a participant under the scheme. Date: Signature (s) of the Investor (In case of joint holding, all the investors, whose signatures ar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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