16,000 bounced checks for electricity bills in Western Maharashtra

According to MSEDCL statistics, majority (12,543) of bounced checks in Pune region occurred in Pune district resulting in ₹94.07 lakhs. Other districts –Satara had 488 bounced cheques. ₹Charges amounting to Rs 3.66 lakh, 894 bounced checks in Solapur ₹6.70 lakh, Kolhapur faced 1,722 bounced cheques. ₹12.91 lakh and Sangli saw 494 checks bounced ₹3.70 lakhs.

Bhujang Khandare, regional manager, Pune, said: “Various online payment options are available such as ECS, NEFT and RTGS.” Stating that an average of 2,690 checks bounce every month in Western Maharashtra, he encouraged consumers to switch to online payment for their electricity bills.

Additionally, “Common causes of bounced checks include incorrect dates, tampering, incorrect signatures, mismatched names, and insufficient funds in the account. If more than one invoice is paid with a bad check, a penalty is applied for each invoice. ₹750 bank charges and 1.25% late fee.”

Checks normally take three to five days to clear and payments are only recognized at the time they are deposited. An average of around 42.12 lakh low voltage consumers in Western Maharashtra, representing 79% of the state ₹1,195.70 crore electricity bill comes from home every month.