Finance Department Orders Shift from CDR, FDR, TDR and Bank Guarantees to Integrated E-Payment System
SRINAGAR, SEPTEMBER 27: The Jammu and Kashmir Government has directed all Works Departments to adopt an online system for the collection, accounting, adjustment and refund of Bid Security (Earnest Money Deposit), Tender Fee and IT Service Charges for works tenders floated through the J&K e-procurement portal.
The directive has been issued by the Finance Department (Codes Division) through Notification S.O. 247 dated September 24, 2026, under the powers conferred by Section 67 of the Jammu and Kashmir Reorganisation Act, 2019.
As per the notification, Bid Security (Earnest Money Deposit), Tender Fee and IT Service Charges relating to works tenders shall henceforth be deposited exclusively through the online payment gateway integrated with the e-procurement portal, jktenders.gov.in.
The new arrangement will replace the existing practice under which bidders furnished Bid Security through instruments including Call Deposit Receipts (CDR), Fixed Deposit Receipts (FDR), Term Deposit Receipts (TDR), Bank Guarantees or other similar instruments.
The Finance Department has directed that the online mechanism be adopted for the collection, accounting, adjustment and refund of these amounts in respect of works tenders processed through the e-procurement system.
The notification has been issued by order of the Lieutenant Governor of Jammu and Kashmir and signed by Shailendra Kumar, IAS, Financial Commissioner (Additional Chief Secretary), Finance Department.
Copies of the notification have been forwarded to senior functionaries and departments, including the Advocate General, Financial Commissioners, Additional Chief Secretary to the Chief Minister, Director General of Police, Principal Accountant General, Principal Secretaries, Principal Secretary to the Lieutenant Governor, Joint Secretary (J&K) in the Ministry of Home Affairs, and the Chief Electoral Officer, Jammu & Kashmir.
The move marks a shift towards a fully digital mechanism for handling tender-related financial transactions in the Union Territory.(KNC)
