Friday, October 28, 2011

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Government E-Payment System to be Inaugurated; will Bring Transparency; Facilitate Paperless Transaction and Reduce Overall Transaction Cost

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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.

Source:pib

1 comment:

  1. AnonymousOctober 30, 2011 at 10:15 AM

    I retired on 31 Aug 2011. Except Gratuity and Commutation amounts, I have not till date received terminal Benefits . In fact my claim for CGEIS Savings Portion of measly sum is pending with CDA Bangalore for more than a month. My Leave Encashment will be taken by LAO only after 45 days, I have been informed by my higher authorities.It is now 30 days old. About GPF from CDA Meerut, lesser said the better.we civilians are mentally prepared to wait for 5 Months which is the norm. Surprisingly with regard to DAD Officers and Staff ,they are first among equals. Our offices also are afraid to remind CDA because they are scared of Audit Authorities. Whether e Payments are there or not Audit Authorities are holy cows.

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