(2)Stock.- Interest on stock shall be paid by warrants issued by the Public Debt Office and payable at the local office of the Bank, or any other bank (acting as agent or sub-agent of the Bank), or, if the holder so desires, by money order after deducting the commission charges. Such warrants may, at the request, in writing of the holder of the stock to the Public Debt Office, be made payable subject to compliance by the holder with such formalities as the Public Debt Office may require.(a)In the case of stock of a loan of the Central Government, at any other office of the Reserve Bank of India or any agency or sub-agency thereof conducting Government treasury business or at any non-banking treasury or sub-treasury in India:(b)In the case of stock of a loan of a State Government, at any other office of the Reserve Bank of India or any agency or sub-agency thereof conducting Government treasury business in the State concerned or at any non-banking treasury or sub-treasury within that State.The presentation of stock certificate shall not be required at the time of payment of interest but the payee shall acknowledge receipt at the back of the warrant.]
