Sri Vijaya Puram, July 18: The Electricity Department with the approval of the competent authority has informed all its consumers that those currently having their security deposits towards their electric connection with the Andaman Nicobar State Cooperative Bank (ANSCB) can now transfer their security amounts to any of the following solvent Public Sector Banks operating in A&N Islands.
(1) State Bank of India
(2) Canara Bank
(3) Indian Bank
(4) UCO Bank
(5) Punjab National Bank
(6) Indian Overseas Bank
(7) Bank of Baroda
(8) Union Bank of India
(9) Central Bank of India
(10) Bank of India
Further, in accordance with Section 5.136 of the JERC Regulations 2018 on “Review of Security Deposit”, the licensee shall review the consumption pattern of the consumer for previous year (April – March) and revise the Security Deposit which has to be maintained by the consumers. This sum shall be equivalent to twice of the average payment of actual bills paid in last financial year. The revised SD amount calculated by the respective sub-divisions may be deposited in any of the above solvent Public Sector Banks in the form of bank guarantee or by providing lien against fixed deposits.
Upon submission of the requisite documents for establishing a new security deposit account as per section 5.136 of Regulation 2018 in any of the above solvent Public Sector Banks, the existing security deposit along with accrued interest will be released by the ANSCB directly to the consumers on their request to the Department which will be forwarded to the ANSCB.