The text discusses the upcoming repayment by the Ministry of Finance for a specific Government Security (GS) issue with an outstanding balance of 7.72 GS. The repayment process involves repayment on May 23, 2025, and continues until May 24 and 25 since these dates fall on a non-working weekend due to Saturday being declared as such by certain state governments. No accrual of interest will occur post-May 23.
In the event that any holiday is announced in State Governments under the Negotiable Instruments Act, 1881, on the repayment day, loan repayments are still scheduled but conducted on the previous business day instead.
Government Securities Regulations, specifically subregulations 242 and 243 of 2007, state that repayments for securities held in Subsidiary General Ledger or Constituent Subsidiary General Ledger accounts or Stock Certificates will be handled by issuing pay orders containing relevant bank account details or facilitating credit directly into the holders' banking accounts with electronic receipt. The original subscriber or any subsequent holder of these securities must provide their bank account information well in advance.
An alternative method mentioned for payment is tendering of the securities, which are duly discharged at Public Debt Offices, Treasuries, Sub-Treasuries, and branches of the State Bank of India, provided there's registration with interest payments made 20 days prior to the due repayment date.
Finally, details on receiving the discharge value can be sought from any designated paying office noted in the text.
The tone is formal and objective throughout, aligning with a business-like professional approach without speculation or additional commentary beyond what directly supports the content of the text presented.
Key Entities Referenced
Ministry of Finance: A governmental organization responsible for economic and finance-related matters.
7.72 GS 2025: A specific government security with an outstanding balance, due for repayment.
May 23, 2025: The specified date by which the specified government securities need to be repaid.
Nonworking Saturday and Sunday (May 24 and 25, 2025): Indicating that no interest will accrue beyond these days due to weekends being non-working.
Negotiable Instruments Act, 1881: A legislative framework for documents that can be negotiated and easily transferred or exchanged.
Government Securities Regulations, 2007: Regulations governing government securities transactions including payment procedures.
Subsidiary General Ledger / Constituent Subsidiary General Ledger account / Stock Certificate: Specific reference to the format or security under which Government Securities are held leading to payments.
Pay order: A method of payment by incorporation where the recipient’s bank details are included for funds transfer.
Negotiable Instruments Act, 1881 (as a legal context): It provides the legal framework for transactions involving negotiable instruments which is relevant in terms of paying off loans in India.
Public Debt Offices, TreasuriesSubTreasuries: Specified public offices where payment of interest for government securities is managed or executed.
State Bank of India ('branches'): One of the banks specified potentially related to the repayment process of government securities in question.
Ministry of Finance
Repayment of ‘7.72% GS 2025’
Posted On: 02 MAY 2025 7:00PM by PIB Delhi
The outstanding balance of ‘7.72% GS 2025’ is repayable at par on May 23, 2025 (May 24 and 25, 2025
being Non-working Saturday and Sunday respectively). No interest will accrue thereon from the said date.
In the event of a holiday being declared on repayment day by any State Government under the Negotiable
Instruments Act, 1881, the Loan/s will be repaid by the paying offices in that State on the previous working
day.
As per sub-regulations 24(2) and 24(3) of Government Securities Regulations, 2007 payment of
maturity proceeds to the registered holder of Government Security held in the form of Subsidiary
General Ledger or Constituent Subsidiary General Ledger account or Stock Certificate, shall be
made by a pay order incorporating the relevant particulars of his bank account or by credit to the
account of the holder in any bank having facility of receipt of funds through electronic means. For
the purpose of making payment in respect of the securities, the original subscriber or the
subsequent holders of such Government Securities, shall submit the relevant particulars of their
bank account well in advance.
However, in the absence of relevant particulars of bank account / mandate for receipt of funds
through electronic means, to facilitate repayment of the loan on the due date, holders may tender
the securities, duly discharged, at the Public Debt Offices, Treasuries/Sub-Treasuries and branches
of State Bank of India (at which they are enfaced / registered for payment of interest) 20 days in
advance of the due date for repayment.
The details of the procedure for receiving the discharge value may be obtained from any of the
aforesaid paying offices.
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NB/KMN
(Release ID: 2126269)