The Bihar Post

Any central govt’s payment of above Rs 5000 to be made through e-payments

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New Delhi: The Union Ministry for Finance, on Monday said that any payment above Rs.5,000 by government departments to suppliers, contractors, grantee/loanee institutions etc  will be made through e-Payments.

To attain the goal of complete digitization of government payments, the Union Ministry of Finance has again reviewed the existing limit of Rs. 10,000 prescribed regarding e-payment to suppliers etc.

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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 in August, 2016.

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Accordingly, the Finance ministry has directed all the central Ministries/Departments to ensure with immediate effect that all payments above Rs. 5000 to suppliers, contractors, grantee/loanee institutions etc. are made by issue of payment advises only.

To encourage cashless/electronic transactions, the central government has asked its employees to take the lead and maximize the usage of debit cards.

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India Blooms News Service 

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