New mode of e-payment system for Central Govt., employees. - ALLCGNEWS

Central Government Employment News

Post Top Ad

29 October 2011

New mode of e-payment system for Central Govt., employees.

The Controller General of Accounts (CGA), Department of Expenditure, Ministry of Finance has developed a fully secured Government e-payment system for direct credit of dues from the Government of India into the account of beneficiaries using digitally signed electronic advice (e-advice) through the ‘Government e-Payment Gateway’ (GePG). The Union Finance Minister Shri Pranab Mukherjee will inaugurate the Government e-Payment System on Monday. Government e-Payment Gateway (GePG) is a portal which enables the successful delivery of payment services from Pay & Accounts Offices (PAOs) for online payment into beneficiaries’ accounts in a seamless manner under a secured environment. GePG serves as middleware between COMPACT (Computerized Payment and Accounts) application at Pay & Accounts Offices and the Core Banking Solution (CBS) of the agency banks/RBI to facilitate paperless transaction, reducing overall transaction cost and promoting green banking. 

This system will bring transparency and expedite direct payments from central paying units relating to subsidies to the users and consumers of fertilizer, kerosene and cooking gas which is already a declared objective of the government. This will increase the adoption of other e-services due to its efficiency and ease-of-use for all Central Government Ministries and Departments for online payment transactions. The digitally signed e-advices uploaded by the PAOs on GePG portal is downloaded by the concerned banks to credit the beneficiaries’ accounts through CBS/NEFT/RTGS as applicable. The e-payment system will save time and efforts in effecting payments and will facilitate elimination of physical cheques and their manual processing. Further the constraints of manual deposit of cheque by the payees into their bank account would also be eliminated. The system will also have online reconciliation of transactions and efficient compilation of payment accounts. 

Under the traditional system of government payments, paying units in central government are using cheque, cash, DD or in few ministries ECS for payments to employees and vendors. In the past few years RTGS and NET faculties provided by RBI are also being utilized for central government payments in various ministries through the banking channel. 

DSM/SS/GN 
(Release ID :76885)



Source

No comments:

Post a Comment

Feel free to drop your comments and suggestions

Disclaimer

The contents and information given in this blog are purely informative in nature and should not under any circumstances be taken as authority. Allcgnews blog may contain typographical errors in its contents. All efforts had been made to ensure accuracy of the content on this blog. The same should not be construed as a statement of law or used for any legal purposes. ALLCGNEWS accepts no responsibility in relation to the accuracy, completeness or otherwise, of the contents. Users are advised to verify/check any information with the relevant departments and to obtain any appropriate professional advice before acting on the information provided in the blog. We cannot guarantee the availability linked pages at all times.

Post Top Ad