J&K Makes Online Payments Mandatory For Tenders, Ends Bank Deposits

JAMMU, Sept 24: In a major administrative reform, the Jammu and Kashmir Finance Department has issued a notification directing all Works Departments to shift entirely to an online system for collecting and refunding Bid Security (Earnest Money Deposit), Tender Fees, and IT Service Charges for tenders floated on the official e-procurement portal, jktenders.gov.in.

As per the new directive issued by the Lieutenant Governor under the J&K Reorganization Act, 2019, contractors must now deposit these charges exclusively through the integrated online payment gateway, effectively ending the previous practice of furnishing physical instruments like Call Deposit Receipts (CDR), Fixed Deposit Receipts (FDR), Bank Guarantees, or Term Deposit Receipts.