Govt cuts its cash spending limits, says expenditure over Rs 5000 to be made via e-payments
Govt cuts its cash spending limits, says expenditure over Rs 5000 to be made via e-payments
The government on Monday announced that any payments to suppliers, contractors, grantee/loanee institutions by government departments to be made through e-payments.
The earlier threshold for e-payments by the government was in excess of 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/-(Rs. Ten Thousand only) 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 (Rupees Five Thousand only).The last review in this regard was made only in August, 2016,” the Ministry added.
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