All government payments above Rs 75 crore must go via RBI's e-Kuber from July 16
The central government is mandating that departments and ministries process payments above Rs. 75 crore through the RBI's e-Kuber system starting July 16, aiming to enhance transparency and expedite fund reconciliation. This initiative seeks to minimize reconciliation delays, potentially providing real-time expenditure data and improving payment tracking to vendors and contractors.
Central government departments and ministries will be required to process all payments above Rs. 75 crore from July 16, including to private parties, through the Reserve Bank of India's e-Kuber system, according to a directive sent out by the Department of Expenditure on July 1. ET has seen a copy of the letter.
