8.56% of 2021 government shares will be redeemed: Department of Finance – The New Indian Express
CHENNAI: The state finance department said on Friday it will settle the outstanding balance of Tamil Nadu government shares, 2021, issued in 2011, on June 22 with interest due. In a statement, the ministry said 8.56% of Tamil Nadu 2021 government shares issued on June 17, 2011 will be redeemed.
To make payment for the securities, the original subscriber or subsequent holders of such government securities must submit to the bank or treasury and sub-treasury or branch of the State Bank of India, where they are located. registered for the payment of interest, the relevant details of their bank account. However, in the absence of relevant bank account details, to facilitate repayment on the due date, holders of 8.56% Tamil Nadu 2021 government shares must deposit their securities with the Public Debt Office. 20 days in advance.
The securities must be surrendered for reimbursement, duly paid on the back of them as under “Received the principal due on the certificate”. At places where treasury work is carried out by a branch of State Bank of India, securities, if in the form of share certificates, should be deposited at the branch of the relevant bank. and not to the treasury or the sub-treasury.
Holders who wish to receive payment in places other than those where the securities have been paid must send them duly released to the relevant Public Debt Office by registered and insured post. Payment will be issued by draft payable to any treasury / sub-treasury or branch of the State Bank of India, the statement added.
Auctioned May 24
The state finance department will hold an auction for its securities to the tune of Rs 3,000 crore on May 24. The sale of 20 year securities for Rs 1500 crore and 25 year securities for Rs 1500 crore in the form of shares to the public by auction for a total amount of Rs 3000 crore will be conducted by the RBI at its Mumbai office on the 24th May, S Krishnan, additional chief secretary of the finance department, said in a press briefing. Competitive offers must be submitted between 10:30 a.m. and 11:30 a.m. and non-competitive bids between 10:30 a.m. and 11:00 a.m., electronically on the RBI Core Banking Solution (E-Kuber) system on May 24.