There is a good news for all the central Government employees. Government of India has recently launched an e-payment system, which would facilitate 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 system has been developed by the Controller General of Accounts (CGA), Department of Expenditure, and Ministry of Finance.
According to a statement by the Government, the 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.
Under this scheme, all of the employees of the office will get their salaries and allowances etc through e-payment. They may open a new account or use their existing account for the purpose. Those who have to travel a good distance remain always worried until they reach their home on the day they take their hard-earned salary to home. Many incidents are there where many a friends have lost their pay while returning home.
As now core banking system (CBS) system is available and people are using their ATM cards they can withdraw money as and when required from any ATM of any bank. Withdrawal from other bank’s ATM is free now. They can take offer of online banking (or Internet banking) which allows customers to conduct financial transactions on a secure website credited to their Bank Account directly. This facility extend to all Central Government employees and Pensioners by April, 2012. Customs Preventive Division,Bareilly under Customs Commissionerate,Lucknow has this facility since last one year.
How It Works:
The digitally signed e-advices uploaded by the PAOs on GePG portal will be downloaded by the concerned banks to credit the beneficiaries’ accounts through CBS/NEFT/RTGS as applicable. The system will also have online reconciliation of transactions and efficient compilation of payment accounts.
This would help the Government credit payments directly to beneficiaries including existing and retired Government employees, contractors and other entities that receive payments from the government, without involving conventional payment instruments such as cheques and demand drafts, and thus save time and constraints of manual deposit. It will certainly make the system more transparent as the mid-level agency would not be needed. Also, the government will save on interest payments as payments would be on time.
