Payouts above Rs 5,000 only through electronic mode, Centre directs govt departments

The Centre on Monday said that any payment above Rs. 5,000 to should be made through electronic mode only.
Rs 5000, electronic mode, Centre, e-payment Source: PTI
India TV Business Desk New Delhi December 05, 2016 16:25 IST

In a bid to promote cashless transactions and bring transparency in dealings of government departments, the Centre on Monday said that any payment above Rs. 5,000 to should be made through electronic mode only. 

“Any Payment of above Rs. 5,000 to suppliers, contractors, grantee/loanee institutions etc. by government departments to be made now through e-Payment,” Ministry of Finance said in a tweet.  

The order is only applicable to departments that fall under the ambit of the Centre.  

“Ministry of Finance has directed all the Ministries/Departments of the Govt of India to ensure the same with immediate effect. This decision has been taken in order to attain the goal of complete digitization of Government payments,” it said.

Earlier the threshold limit of e-payment was Rs. 10,000.  

“In order to attain the goal of complete digitization of Government payments, the Ministry of Finance, Government of India has again reviewed the existing limit of Rs. 10,000 prescribed regarding e-payment to suppliers etc.  

“It has now been decided to lower this threshold limit from Rs. 10,000 to Rs. 5,000. The last review in this regard was made only in August, 2016,” a statement issued by the Ministry of Finance said. 

 
Chunav Manch Gujarat 2017
 
 
 
Assembly Elections 2017
 
 

You May Like

   
 

More from business

 
 
Assembly Elections 2017