A recent press report said the Public sector bank IDBI bank has announced the book closure to repay the bonds of 2011 which is to be matured on December 16. The bank said that the principal amount of the 2011 bone series would be repaid at par on December 16th. The interest on these bonds would be accrued up to December 15. The 61st series book closure would be effective from November 16th onwards.
The bank in its statement said that the investors those who hold the bonds in the form of promissory notes might be repaid in the respective branches where they have to tender the promissory notes.
The investors holding the bonds in the form of entry – in – account with IDBI Bank have to hand over the receipt for the principal amount as well as the relevant certificate of holding to receive the repayment. If the bonds are in the demat format then there is no need for the bond holders to hand over any document.
IndusInd Bank was established in 1994 and has 350 branches and 666 ATMs in across country’s 247 geographic locations till September 30, 2011. Earlier this year, the bank had bought Deutsche Bank’s India credit card business. The loan portfolio of the bank includes home loans, personal loans, car loans, education loan, mortgage loans etc.