Repayment of 8.12% Maharashtra State Development Loan, 2025

Mumbai, Oct 2025 : The Government of Maharashtra has announced that the 8.12% Maharashtra State Development Loan, 2025, which was raised earlier through the open market, will be redeemed at par on November 13, 2025, along with the interest due up to November 12, 2025. This information was released through a press note by Ms. Shaila A., Secretary (Financial Reforms), Finance Department.

According to the Negotiable Instruments Act, 1881, if the Government of Maharashtra declares a public holiday on the said date, the repayment will be made on the previous working day by the Treasury Office in the state. No interest will be paid on this loan from November 13, 2025, onwards.

In accordance with Sub-Regulations 24(2) and 24(3) of the Government Securities Regulations, 2007, the maturity proceeds of government securities held in the form of Stock Certificates or Subsidiary General Ledger (SGL) accounts will be credited electronically to the account of the registered holder in any bank that provides electronic fund transfer facilities, as per the mandate and bank account details furnished by the holder.

For redemption purposes, the original subscriber or subsequent holder of such securities should furnish relevant details of their bank account to the Bank, Treasury, Sub-Treasury, or a branch of the State Bank of India (SBI) or its subsidiary banks, as applicable, if those institutions have been authorized or registered to pay the interest.

However, in the absence of proper bank account details or electronic fund transfer mandates, and to facilitate timely repayment, the holders of the 8.12% Maharashtra State Development Loan, 2025 are required to submit their bonds at least 20 days prior to the due date at the Public Debt Office (PDO). The bonds must be duly endorsed on the reverse side, stating that the principal amount has been received, before submission for redemption.

It should be noted that if the securities are in bond certificate form and the Treasury functions are handled by the State Bank of India or any of its associate banks, the certificates should be submitted at the respective bank branch and not at the Treasury or Sub-Treasury Office.

If any bondholders wish to receive payment at locations other than those originally designated, they should send their bonds by registered and insured post to the relevant Public Debt Office. The Finance Department has clarified that the Public Debt Office will make payment through the Treasury/Sub-Treasury of the State Bank of India or its associate banks functioning as government treasuries in Maharashtra.