Repayment of Maharashtra State Development Loan, 2026 on February 24, 2026

Mumbai, Jan 2026 : The Finance Department has informed through a press release that the Government of Maharashtra will redeem at par value the outstanding amount of the 8.67% Maharashtra State Development Loan, 2026, earlier raised from the open market. The repayment, along with interest payable up to February 23, 2026, will be made on February 24, 2026.

If the Government of Maharashtra declares a holiday on the said date under the Negotiable Instruments Act, 1881, the concerned Public Debt Office in the state will carry out the repayment on the preceding working day. No interest shall be payable on this loan from February 24, 2026, or thereafter.

As per Sub-Regulations 24(2) and 24(3) of the Government Securities Regulations, 2007, the maturity proceeds payable to registered holders of government securities held in the form of Subsidiary General Ledger (SGL) accounts or bond certificates will be credited through electronic fund transfer to the holder’s bank account in any bank offering such facility. This will be done through a payment order along with the relevant bank account details.

For the purpose of payment, the original subscriber or the subsequent registered holder of such securities, as the case may be, shall submit the relevant bank account details to the bank, treasury, sub-treasury, or the branch of the State Bank of India (or its associate banks) where the securities are endorsed or registered for interest payment.

However, in the absence of bank account details or instructions for electronic fund transfer, and to facilitate smooth repayment on the due date, holders of the 8.67% Maharashtra State Development Loan, 2026 are required to submit their bond certificates to the Public Debt Office at least 20 days in advance. The bonds should be presented for repayment after duly endorsing on the reverse side that the principal amount payable under the certificate has been received.

It is specially noted that where treasury work is conducted through the State Bank of India or any of its associate banks, and if the securities are in the form of bond certificates, they should be presented at the concerned bank branch only, and not at the treasury or sub-treasury.

Bondholders who wish to receive payment at a place other than the one endorsed for payment must send their bond certificates by registered and insured post to the concerned Public Debt Office in the prescribed manner. The Public Debt Office will arrange payment through a treasury or sub-treasury, or through any branch of the State Bank of India or its associate banks conducting government treasury business in Maharashtra, by issuing a drawal order, as stated in the Finance Department’s press release.