The
Scheme enables a person to pay an advance to CESC Limited for a specific
Low Tension (LT) consumer no. for automatic adjustment with future monthly
electricity bills. Interest will be credited on the 1st day of
the succeeding month to the CRES A/c and will be available for adjustment
against the electricity payment of bills falling due during the month.
Q2.
What is the full form of CRES?
A.
C - Convenience
- For automatic payment of electricity bill. RE - Returns - Interest @ 10.5% p.a. on unadjusted CRES balance. S - Security - Secured against future supply of electricity.
Q3.
Who can apply under CRES?
A.
Resident individuals, Groups of persons, Domestic
Companies and others against a specific LT consumer number, can make
applications. The payer need not be a consumer.
Applications from foreign nationals and on behalf of
minors will not be accepted.
Q4.
What is the minimum amount that can be advanced under CRES?
A.
Rs.5000/-
Q5.
What is the maximum amount that can be advanced under CRES?
A.
Sixty
times the last monthly electricity bill or Rs.5000/- whichever is higher.
Q6.
Can additions be made to the advance?
A.
Additions
can be made to the existing CRES A/c for a minimum of Rs.3000/- and in
multiples of Rs.1000/- thereafter.
Q7.
What will be the interest rate and how is it calculated?
A.
Unadjusted advance balance under CRES will carry an
interest of 10.5% p.a. The interest will accrue from the date of credit of
funds to CESC account and will accrue monthly on the first working day of
every subsequent month. A minimum balance of Rs.100/- is to be maintained
in the account for availability of interest/bill adjustment. The interest
will get credited to the CRES A/c for adjustment against electricity bills.
Q8.
Will tax be deducted at source?
A.
Tax
will be deducted at source only if the amount of interest credited to the
CRES A/c exceeds Rs.5000/- in a financial year..
Q9.
When did the Scheme come into effect?
A.
The
Scheme started from March 1, 2002.
Q10.
Where will the application forms be made available?
Application
forms for CRES will be available as mentioned below:
Contact
person: Senior Commercial Executive Central
Regional Office
CESC House
Chowringhee Square
Kolkata 700 001
South Regional Office
6 Mandeville Gardens
Kolkata 700 019
North Suburban Regional Office
32 B T Road
Opposite Sagar Dutta Hospital
Kolkata 700 058
For home delivery of Application Forms
dial 1912 informing the address where the application form is to be sent.
Q11.
Where can the applications be deposited?
A.
Applications may be deposited at 17 branches of
United Bank of Indiaand 5 branches of UCO Bank
(details of branches & addresses mentioned in the Application Form).
Q12.
How are abatements to be dealt with?
A.
During the currency of the CRES Account if any
abatement/adjustment is allowed in respect of the earlier bill already
adjusted through the CRES Account then such adjustment would be given
effect to from the due date of the respective bill for the purpose of
interest calculation.
Q13.
Will the Security Deposit be adjusted also?
A.
No,
only net monthly electricity consumption bill will be adjusted.
Q14.
Is nomination facility available?
A.
Nomination facility will be available for individual
payers only. For this purpose, the payer will have to fill in the
nomination particulars contained in the application form. In case of death
of the payer the nominee would receive the unadjusted balance in the CRES
Account including interest if any on production of relevant death
certificate.
Q15.
What are the documents to be attached with the application form?
A.
A photocopy of the electricity bill of the consumer for
which adjustment is being asked for is to be attached with the application
form. The attached bill should not be earlier than two months from the date
of application.
Q16.
Can advance be made in cash?
A.
Cash advance will be accepted upto a maximum limit of
Rs.19,000/- at a time at certain Bank collection centres only (all UCO Bank
branches and 3 UBI branches mentioned in detail in the Application Form).
Q17.
What is the proof of advance?
A.
An acknowledgement of receipt of application would be
given across the counter at the collection centres. The companys service
provider to the Scheme M/s Tata Consultancy Services (TCS) will issue
statement within 15 days of credit of funds to CESC Account intimating the
CRES account number to the payer and the exact month from which the
adjustment would start.
Q18.
How will the payer get informed about the CRES Account?
A.
A statement will be issued by TCS every quarter showing
the detailed operations in the account including interest credited, and
amount of electricity bill adjusted, and the closing balance in the CRES
Account at the end of the quarter. The unadjusted credit balance in the
CRES Account before adjustment for the month will also get reflected in the
monthly electricity bills.
Q19.
Can the advance be withdrawn / What happens if the consumer gets
transferred?
A.
The
advance can be withdrawn under special circumstances like cessation of
consumer.
Q20.
Who will address specific CRES query after submission of form?
