Interest on security deposit remitted to KSEB

(Supply Code:72)

(1) KSEB Ltd. shall pay to the consumer, interest on the security deposit furnished by him at the bank rate prevailing on the first of April of that year and it shall be payable annually with effect from date of such deposit.

(2) The interest accrued during the financial year shall be adjusted in the energy bill of the consumer during the first quarter of the ensuing financial year.

(3) If the adjustment of interest is delayed, interest at twice the bank rate shall be payable for the delayed period.

Views: 1003.