Section 5 in Public Debt (Compensation Bonds) Rules, 1954
5. Payment of Instalments.-
Instalments on a bond may be made payable at any treasury or sub-treasury in the State concerned or at the Public Debt Office, subject to compliance by the holder with such formalities as the Public Debt Office may require and instalments shall accordingly be paid at such treasury or sub-treasury or Public Debt Office on presentation of the bond. The payee shall give a receipt in Form B. Where, however, instalments are payable at a place where a Public Debt Office is located, the bond shall, unless otherwise directed by the Public Debt Office, be presented at the Public Debt Office which shall issue an instalment warrant in favour of the holder payable at the local office of the Bank or any agency thereof conducting Government treasury business or at a treasury. Notwithstanding anything contained herein, any instalment due on a bond, the instalments on which are payable at a treasury or sub-treasury, maybe paid by the Public Debt Office by an instalment warrant payable at such treasury or sub-treasury.
