CHENNAI: The State Finance department on Friday said it would settle the outstanding balance of Tamil Nadu Government Stock, 2021 issued in 2011, on June 22 with interest due. In a statement, the department said 8.56 per cent of Tamil Nadu government stock 2021 issued on June 17, 2011 will be repaid.
To make a payment in respect of the securities, the original subscriber or the subsequent holders of such government securities are to submit to the bank or treasury and sub-treasury or branch of State Bank of India, where they are registered for payment of interest, the relevant particulars of their bank account. However, in the absence of relevant particulars of bank account, to facilitate repayment on the due date, holders of 8.56 per cent Tamil Nadu Government Stock 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 thereof as under ‘Received the Principal due on the Certificate’. At places where the treasury work is done by a branch of the State 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.
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 payment wi ll be issued through draft payable at any treasury/sub treasury or branch of State Bank of India, the statement added.
Auctioned on May 24
The State Finance department will conduct 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 stock to the public by auction for an aggregate amount of Rs 3000 crore will be conducted by the RBI at its Mumbai Office on May 24, said S Krishnan, Additional Chief Secretary, Finance department, in a press note. Competitive bids are to be submitted between 10.30 am and 11.30 am and non-competitive bids between 10.30 am and 11 am, electronically on the RBI Core Banking Solution (E-Kuber) system on May 24.