7% Savings Bonds, 2002

Ref.CO.DT. 13.01.289/H-2961/2002-03

February 28, 2003

By FAX / Speed Post
The Regional Director
Reserve Bank of India
Public Debt Office
Ahmedabad/ Bangalore/ Bhubaneswar/ Byculla,Mumbai
400008/Mumbai (Fort)/Kolkata/Guwahati/Hyderabad/Jaipur/
Kanpur/Chennai/Nagpur/New Delhi/Patna/ Thiruvananthapuram

The Chairman & Managing Director
State Bank of India, Associate Banks and Nationalised Banks/
UTI Bank Ltd. / IDBI Bank Ltd./HDFC Bank Ltd. /
ICICI Bank Ltd./Stock Holding Corporation of India Ltd.

Dear Sir,

It has been decided by Government of India vide their Notification F.No.4(13)-W&M/2002 dated February 28, 2003 (copy enclosed) that the issue of 7% Savings Bond, 2002 shall CEASE with effect from the close of business on February 28, 2003.

2. Accordingly, offices are advised to REFRAIN from accepting fresh applications in respect of the captioned Scheme with immediate effect.

3. The existing interest rate will continue to apply on the captioned Bonds till maturity.

3. A copy of the Press Communique dated February 28, 2003 issued by Government of India is enclosed.

4. The contents of the circular may please be conveyed to all the banks under your jurisdiction / designated branches of your bank handling Savings Bonds, 2002.

Please acknowledge receipt.

Yours faithfully,

(R. C. Das)
General Manager

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Notification: 7% Savings Bonds, 2002

Government of India
Ministry of Finance and Company Affairs
Department of Economic Affairs

New Delhi, the 28th February, 2003.

Notification
7% Savings Bonds, 2002

F.No.4(13)-W&M/2002 : The Government of India hereby notifies that the issue of 7% Savings Bonds, 2002 as per Notification F.4(13)-W&M/2002 dated 5th September, 2002 shall cease with effect from the close of business as on 28th February 2003.

By order of the President of India

Sd/-

( D. Swarup )
Additional Secretary (Budget)