Section 6(2) in Rajasthan Electricity Regulatory Commission (Constitution of fund and the manner of application of the fund) Rules, 2006
(2)Opening of Bank Account:(a)The State Commission after taking a decision of the full Commission will open a bank account/Accounts in the State Bank of India and/or in one or more Nationalized Bank. For the purpose of ensuring gainful investment of general provident fund, gratuity fund, pension fund and pension medical concession fund. The Commission may also open Demat Account in scheduled banks.(b)The State Commission will make available the specimen signatures of two of its officers to be the authorized signatories to the nominated bank/banks for their information and record.(c)The nominated bank/banks will furnish monthly payments and receipt scrolls to the State Commission, which will ensure that the receipts and cheques appearing in the scrolls are those issued/deposited by the State Commission and reconcile each transaction with the bank/banks.
