The facility of bond ledger account will be available to the investors in Relief Bond at 714 branches of publiic sector banks besides the 14 public debt offices of the Reserve Bank of India.

The receiving offices will open the bond ledger accounts in their books in the name of the investors with the amount of investment and pay interest periodically by credit to the banks accounts of the holders or by issue of interest warrants.

A certificate of holding will be given to the holder as a proof of the holding of bonds at the branch in the bond ledger account. The repayment of the bond on maturity will be effected at the branch itself on due date. The bond ledger accounts offer the facility of transferability and nomination.

Thenewly introduced bond ledger account faciliity, along with the decentralised servicing at the receiving offices, meets the long felt need of the investors for a bond in a dematerialiised form without the hassels associated with the paper form of holding Relief Bonds.

It is open to the holders to make additional investments in Relief Bonds which would be accounted in the same account. The bond ledger account also offers protection against loss/theft with the facility of servicing at the bank branch nearest to the investor.

Reserve Bank offices at 14 centres will receive the applications both for bond ledger account and promissory note form of holding Relief Bonds. The application for bonds in the form of promissory note will be issued only at the offices of the Reserve Bank of India.