Payments through Electronic Funds Transfer System (ECS/RTGS) - VAT - Delhi - F.4 (37) Fin (T&E)/2008-09/47

Payments through Electronic Funds Transfer System (ECS/RTGS) GOVERNMENT OF NCT OF DELHI FINANCE DEPARTMENT 4th LEVEL, A WING: DELHI SECTT. I.P.ESTATE: NEW DELHI No: F.4 (37) Fin (T E)/2008-09/47 Dated: 24.02.09 CIRCULAR Subject: Payments through Electronic Funds Transfer System (ECS/RTGS) It may be recalled that most of the releases of funds consequent to the expenditure sanction by the government have already started through ECS/RTGS thereby expediting work and improving efficiency at different levels. This would also help in avoiding the phenomenon of stale cheques. However, in a recent internal audit it was observed that payments to vendors and contractors is not yet being made through Electronic Fund Transfer (EFT). In the interest of simplification of work and efficiency, all the accounts functionaries posted in different administrative departments are hereby advised to ensure that all the payments to the vendors and contractors are made invariably through Electronic Fund Transfer into their designated bank accounts. It is suggested that the bank account number with the branch code and mandate form may be obtained from them in the initial stage of correspondence /interaction itself so that EFT can be done soon after the expenditure sanction . Sd/- (V.V. Bhat) Pr. Secretary(Fin) To All HODs All Account Functionaries