J & K Bank Signs DDF Agreement With JPDCL

(MENAFN- Kashmir Observer) Jammu- Reinforcing its significant role in financial oversight, J&K Bank has executed the Direct Debit Facility (DDF) Agreement with Jammu Power Distribution Corporation Limited (JPDCL). The agreement, developed in collaboration with REC Power Development and Consultancy Ltd (RECPDCL), underscores the Bank's commitment to ensuring seamless financial operations and transaction security in high-value infrastructure projects.

As Direct Debit Account Agent, the Bank will oversee structured payment mechanisms for the Advanced Metering Infrastructure (AMI) project, facilitating automated disbursements, financial transparency, and compliance adherence. Through this initiative, the Bank positions itself as the driving force behind the financial framework supporting smart metering in JPDCL's operational network.

The formal signing of the agreement took place between Managing Director (JPDCL) Chowdhary Mohammad Yasin (IAS), General Manager & Divisional Head (Jammu) Sunit Kumar, and GM (Smart Metering – RECPDCL) Mukul Aggarwal during an event attended by senior officers including Chief Manager Atul Sethi, FA & VAO (JPDCL) Pawan Sharma (JKAS), and DGM (Tech) Rishab Jain. Their presence highlighted the collective commitment toward ensuring financial accountability and operational excellence in the implementation of smart metering technology.

Commented on the development, Divisional Head (Jammu) Sunit Kumar said,“J&K Bank remains at the forefront of financial discipline and governance. By streamlining automated payments and reinforcing accountability, we ensure that critical infrastructure projects operate with precision and efficiency. This agreement exemplifies our leadership in financial management and operational security.”

With this agreement, the Bank further cements its reputation as the premier financial institution driving structured payments across large-scale utility projects.

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