Finmin to be launched fully secured Government e-payment system
ECS payment facility to all Central and State Government employees :
Ministry of Finance has decided to launch a fully secured Government e-payment system on Monday. Government e-payment Gateway (GePG) is 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.
The ECS (Electronic Clearing System) payment facility is already available in few ministries, tie up with some Nationalised and Private banks to provide payment and pension to respective employees accounts. This facility extend to all Central Government employees and Pensioners by April, 2012.
The traditional system of Central Government are using cheque, cash and DD for payments to Vendors or Contractors. 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.