Tarun Karthick
Sri Vijaya Puram, 19 July 2025
The Electricity Department, with due approval from the competent authority, has announced that consumers who currently hold their electricity security deposits with the Andaman & Nicobar State Cooperative Bank (ANSCB) may now transfer these deposits to any of the following solvent Public Sector Banks operating in the A&N Islands:
- State Bank of India
- Canara Bank
- Indian Bank
- UCO Bank
- Punjab National Bank
- Indian Overseas Bank
- Bank of Baroda
- Union Bank of India
- Central Bank of India
- Bank of India
- Bank of Maharashtra
Further, in alignment with Section 5.136 of the Joint Electricity Regulatory Commission (JERC) Regulations, 2018, which mandates a periodic review of the security deposit (SD) based on the consumer’s electricity usage pattern during the previous financial year (April to March).
As per the regulation, the revised security deposit should be equivalent to twice the average of the actual electricity bill payments made in the last financial year. Consumers are required to deposit this revised amount in any of the listed solvent Public Sector Banks, either as a bank guarantee or by creating a lien against a fixed deposit.
Once the consumer establishes a new security deposit account in one of the approved banks and submits the necessary documents in accordance with the regulations, the existing deposit amount along with accrued interest will be released by ANSCB upon request. This process will be facilitated by the Electricity Department.
Consumers are advised to contact their respective sub-division offices for further guidance and assistance in the transfer process. (Story Based on PR)
