Developed by the Controller General of Accounts (CGA) the GePG is a portal which enables successful delivery of payment services from Pay & Accounts Offices (PAOs) for online payment into beneficiaries' accounts in a seamless manner under a secure environment.
The GePG, according to an official release here, serves as middleware between ‘COMPACT' (computerised payment and accounts) application at PAOs and the core banking solution (CBS) of the agency banks/Reserve Bank of India, to facilitate paperless transaction, thus reducing the overall transaction cost and promoting green banking.
Transparency, expediency
The system will usher in transparency and expedite direct payments from Central paying units with respect to subsidies to users and consumers of fertiliser, kerosene and cooking gas — which is already a declared objective of the government. Its efficiency and ease-of-use for all Ministries and departments will lead to an increased adoption of other e-services for online payment transactions.
The e-payment system will save both time and effort in effecting payments and also facilitate the elimination of physical cheques and their manual processing. Under the traditional system of government transactions, payments to employees and vendors are made through cheque, cash and demand draft or by Electronic Clearing Service (ECS) in a few Ministries.
In the past few years, Ministries have used the RBI's facilities of Real Time Gross Settlement and National Electronic Funds Transfer to make payments through the banking channel.
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Quelle/Source: The Hindu, 31.10.2011
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