After demonetization of Rs. 1000 & 500 from 09th November, 2016 various announcements or policy decisions has taken by Government from time to time to encourage cashless transactions. Yesterday Finance Minister has announced new policy decision regarding all government payments above Rs 5,000 that the payment of transaction over Rs. 5000 should make through e-payment and asking government staff to maximize use of debit cards for personal transactions. The Finance Ministry reviewed the existing limit of Rs 10,000 prescribed regarding e-payment to government suppliers and others. It’s been decided to lower threshold limit to Rs 5,000.
Any transaction of above Rs 5,000 to Suppliers, contractors, grantee/loanee institutions etc. by all Government Departments including aided agency or institutions to be made now through e-Payment.
Ministry of Finance has directed all the ministries and the ministry to implement the fresh order with immediate effect.
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