Union Transport ministry introduces e-payment
In its bid to reduce delays in payment to contractors and agencies involved in road construction, the Ministry of Road Transport and Highways on Wednesday introduced e-payment with a tie up with Syndicate Bank.
By PTI |
BANGALORE: In its bid to reduce delays in payment to contractors and agencies involved in road construction, the Ministry of Road Transport and Highways on Wednesday introduced e-payment with a tie up with Syndicate Bank.
The facility will ensure transfer of funds to the account of contrctors through e-mode within 24 hours on receipt of advice after the bills are processed and pay order issued by Regional Pay Accounts Office, Union Minister of State for Shipping, Road Transport and Highways K H Muniyappa said while inaugurating the facility on Wednesday.
The ministry intends to expand e-payment system to all the regional pay and accounts offices in India by the end of this April, Muniyappa said.
The Karnataka Regional office will look after five Southern states.
The transaction under the new system reduce the time taken in the existing system by 50 per cent, overcoming delays in the preparation of demand drafts and problems of missing of cheques, besides the postal days.
The department, in consultation with the accredited banker, will introduce a system of confirmation of payments to the agency through SMS.
The facility will ensure transfer of funds to the account of contrctors through e-mode within 24 hours on receipt of advice after the bills are processed and pay order issued by Regional Pay Accounts Office, Union Minister of State for Shipping, Road Transport and Highways K H Muniyappa said while inaugurating the facility on Wednesday.
The ministry intends to expand e-payment system to all the regional pay and accounts offices in India by the end of this April, Muniyappa said.
The Karnataka Regional office will look after five Southern states.
The transaction under the new system reduce the time taken in the existing system by 50 per cent, overcoming delays in the preparation of demand drafts and problems of missing of cheques, besides the postal days.
The department, in consultation with the accredited banker, will introduce a system of confirmation of payments to the agency through SMS.
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