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Finance Ministry says all payments over Rs 5,000 to be done electronically

The Finance Ministry said on Monday that any payments by government departments to suppliers, contractors, grantees and loanees will now have to be made by electronically, in yet another push towards cashless transactions in the country.

The Finance Ministry said, “Any payment above Rs 5,000 to suppliers, contractors, grantee/ loanee institutions, etc by government departments to be made through e-payments.”

The Finance Ministry said it had directed all the ministries and government departments to ensure it is followed.

The government de-legalised the use of Rs 500 and Rs 1000 notes on November 8, in a bid to clampdown on black money and move towards a cashless economy.


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