- The Bond will be issued within 7 days from the date of realization of the cheque.
- The Certificate of Holding will be issued within 5 days from the date of tender of application.
- The interest on the bond accrues from the date of subscription in cash or date of realization of cheque. The half-yearly interest warrants will be despatched one month in advance from the due date.
- The interest on the date of 1st February / 1st August will be credited to the bank account or remitted by an interest warrant at the last registered address.
- An advice of payment of interest will be issued to the investor one month in advance from the due date.
- A sole holder may nominate one or more nominees to the rights of the bonds. Non-resident Indian can also be nominated.
- The nomination will be registered at the Office of Issue and a Certificate of Registration will be issued to the holder.
- The nomination can be varied by registering a fresh nomination.
- The existing nomination can be cancelled by a request to the Office of Issue.
- The redemption is due on the expiry of six years from the date of investment.
- Early redemption facility is not available.
- The investor is entitled to receive repayment amount within five clear working days from the date of tender of acquittance.
- Facility for payment of half yearly interest / redemption proceeds can be availed through ECS or direct credit to the bank account. Applicants may indicate his choice, to avoid delay in receipt of interest / redemption proceeds.
- In case the Branches does not comply with the above, you may lodge a complaint in writing in the form provided at the counter and address the same to the Head Office as under:
The Asst.General Manager (Accounts),
MANIPAL – 576 104.