CHANDIGARH, August 19:The outstanding balance of 11.50 percent Punjab State Development Loan 2008 issued in terms of the State government vide notification no.7/2/88 2FB11 dated August 16,1988 would be repaid on August 29,2008 with interest due upto including August 28, 2008.
Disclosing this here today, a spokesman of the Punjab Government said that in the event of a holiday being declared on the aforesaid date by State Government under the Negotiable Instruments Act, 1881, the loan would be repaid by the paying offices on the previous working day. No interest would accrue on the loan from and after August 29, 2008, he added.
He also said that to facilitate repayment on the due date, holders of 11.50 percent Punjab State Development Loan, 2008 should tender their securities at the Public Debt Office, Treasury and Sub-Treasury or branch of State Bank of India, or its subsidiary banks where they are enfaced/registered for payment of interest 20 days in advance.
It should be particularly noted, said the spokesman, that at places where the treasury work was done by a branch of the State Bank of India or any of its associate banks, the securities, if they were in the form of Stock Certificates, should be tendered at the branch of the bank concerned and not at the Treasury or Sub-Treasury.