Repayment of 8.21% Maharashtra State Development Loan, 2025

Mumbai, Nov 2025 : The Government of Maharashtra has announced that the outstanding balance of the 8.21% Maharashtra State Development Loan, 2025, previously raised through the open market, will be redeemed at par on December 9, 2025, along with the interest payable up to December 8, 2025. This was stated in an official press release issued by Mrs. Shaila A., Secretary, Finance Department (Financial Reforms).

If the Government of Maharashtra declares a holiday on the above-mentioned date under the Negotiable Instruments Act, 1881, the redemption will be carried out on the preceding working day by the Treasury Office. No interest will be paid on this loan from and after December 9, 2025.

Under sub-regulations 24 (2) and 24 (3) of the Government Securities Regulations, 2007, the maturity proceeds of government securities held in the form of Subsidiary General Ledger (SGL) accounts or bond certificates will be credited electronically to the bank account of the registered holder, through ECS or similar electronic fund transfer facilities, based on the bank account details submitted by the holder.

For redemption purposes, the original subscriber or valid subsequent holder must submit their bank account details to the bank, treasury, sub-treasury, or the designated branch of the State Bank of India (SBI) or its associate banks, depending on where interest payments were previously recorded or facilitated.

However, if the required bank account details or electronic transfer instructions are not available, holders of the 8.21% Maharashtra State Development Loan, 2025 must submit their securities at least 20 days prior to the redemption date at the Public Debt Office, so that repayment can be carried out smoothly. The back of the security certificate must be duly endorsed stating that the principal amount has been received upon redemption.

If the securities are in bond certificate form and the place of payment falls under a branch of the State Bank of India or its associate banks performing treasury functions, such securities must be submitted only to the concerned bank branch and not to the treasury or sub-treasury.

Bondholders who wish to receive payment at any place other than the one originally designated must send their securities by registered and insured post to the relevant Public Debt Office. The Public Debt Office will make payment through a demand draft drawn on the treasury or sub-treasury of any SBI branch or its associate banks that handle treasury functions in Maharashtra, the Finance Department added in the press release.