Finance Ministry Announces Repayment Plan For ‘8.40% Government Security 2024’ Which Matures In July | Personal Finance News
New Delhi: The Ministry of Finance has confirmed the repayment schedule for the ‘8.40 per cent Government Security (GS) 2024’, which is set to mature on July 26, 2024. According to a press release by the Ministry of Finance, given that July 27 and 28 are non-working days, the repayment will be made on July 26. Investors are advised that no interest will be accrued beyond the maturity date.
According to sub-regulations 24(2) and 24(3) of the Government Securities Regulations, 2007, the maturity proceeds of a Government Security held in a Subsidiary General Ledger (SGL) account, Constituent Subsidiary General Ledger (CSGL) account, or Stock Certificate must be paid to the registered holder through a pay order that includes the necessary bank account details, or by direct credit to the holder’s bank account if electronic fund transfer is available.
To facilitate the payment, the original subscriber or any subsequent holders of these Government Securities must provide the relevant bank account information well in advance.
If the required bank account details or mandate for electronic fund transfer are not provided, holders should present their duly discharged securities at the Public Debt Offices, Treasuries/Sub-Treasuries, or branches of the State Bank of India where they are registered for interest payments, at least 20 days before the repayment date to ensure timely repayment of the loan, read the press release.
The details of the procedure for receiving the discharge value may be obtained from any of the aforesaid paying offices.
