RBI/2004-05/494
CO.DT.13.01.298/H.10753-10782/2004-05
June 17, 2005
Jyeshtha 27, 1927 (S)
The Chairman and Managing Director,
State Bank of India and its Associates Nationalised Banks
ICICI Bank Ltd., HDFC Bank Ltd., UTI Bank
Ltd.
IDBI Bank Ltd., & SHCIL
Dear Sir,
Issue and servicing of Relief /
Savings Bonds - - Payment of half-yearly interest
Please refer to our circular RBI/2004/152
CO.DT.13.01.298/H.5894/2003-04 dated April 16, 2004 advising you, inter
alia, to despatch Interest warrants in respect of half-yearly interest
due on the captioned bonds, to the investors one month in advance to avoid any
complaints from them. As we have not prescribed any 'Shut Period' for
the transactions relating to the captioned bonds, the request received for transfers
of Bonds held under the Bond Ledger Account in respect of non-cumulative bonds
after despatch of half- yearly interest warrants i.e., during the months of
June / December may be accepted and processed in due course. However, the tenderer
of the transfer deed may be apprised that the half-yearly interest for the ensuing
half-year ending has already been despatched to the transferor and the transfer
can be effected ex-interest for the
relevant half-year. The following legend may be affixed on the counter
receipt issued to the tenderer of transfer deed during the above period
'The non-cumulative bonds
covered by this receipt will be transferred in favour of the transferee
(s) indicated in the transfer deed ex-interest for the current half-year'.
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2. Please issue necessary instructions
to all the designated branches which are issuing and servicing Relief / Savings
Bonds to follow these instructions scrupulously.
3. Please acknowledge receipt.
Yours faithfully,
(B.B.Sangma)
General Manager
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