Section 16 in Kerala Electricity Supply Code, 2005
16. Interest on Security Deposits.
(1)Licensee shall pay interest on security deposit to the consumer at bank rate prevailing as on 1st April of the Financial Year for which interest is due. Payment of interest charges shall be effective from April 1, 2005 onwards.(2)The accrued interest on security deposit for each financial year shall be credited to the consumers account during the first quarter of the subsequent financial year and be adjusted against electricity bill.(3)The Licensee shall pay interest at twice the rate specified under sub-clause (1) above for the delay in making the adjustments for interest on security deposit.
