IMPHAL: Chief Minister N. Biren Singh on Tuesday launched e-KUBER payment system of the Reserve Bank of India (RBI) in the State. The launching function was held at Cabinet Hall of Chief Minister’s Secretariat.
Speaking to media persons, Chief Minister said that the introduction of the e-KUBER payment system in all the treasuries and sub-treasuries of the State will fully replace the existing payment system for the purpose of government payments. Under this system, there will be no role of banks in government payments and RBI will act as the sole agency bank. All government transactions for payment will be directly with RBI without any intermediary bank, he added.
The existing system of Government payment involves payments through banks after the bills are passed by the treasuries. The shortcomings including delay in fund transfer to the payee’s account, problems in accounting due to multiple stakeholders involved and difficulties in cash flow management of the government would be overcome with the introduction of the new system.
It may be mentioned that the e-KUBER payment system was started on a pilot basis by the State Government at Imphal East Treasury from 6th January, 2020.
Deputy Chief Minister Y. Joykumar, Cabinet Ministers, Chief Secretary, Principal Secretary (Finance), officials of Finance department and others attended the function.