J&K Bank signs direct debit deal with JPDCL for Smart Meter Project

Excelsior Correspondent
JAMMU, June 18: J&K Bank has signed a Direct Debit Facility (DDF) agreement with Jammu Power Distribution Corporation Limited (JPDCL) to manage payments for the Advanced Metering Infrastructure (AMI) project.
The agreement, developed with REC Power Development and Consultancy Ltd (RECPDCL), will help streamline financial transactions, ensure transparency, and maintain compliance in the smart metering initiative.
Under this arrangement, J&K Bank will act as the Direct Debit Account Agent, handling automated disbursements for the project.
The signing ceremony was attended by senior officials including JPDCL Managing Director Chowdhary Mohammad Yasin, J&K Bank’s General Manager and Divisional Head (Jammu) Sunit Kumar, and RECPDCL’s GM (Smart Metering) Mukul Aggarwal.
Other officers present included Chief Manager Atul Sethi, FA & VAO (JPDCL) Pawan Sharma, and DGM (Tech) Rishab Jain.
Speaking on the occasion, Sunit Kumar said the agreement reflects the Bank’s continued role in promoting financial discipline and efficient governance in critical infrastructure projects.
“With this move, J&K Bank strengthens its role in managing structured payments and supporting the smart power infrastructure in the Union Territory,” he said.

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