Chief Minister Harish Rawat inaugurated the implementation of e-receipts and e-payments module for the State of Uttarakhand (integration between core banking solutions by RBI and e-kosh, State centralised treasury system) at the Secretariat on Monday. Chief Minister asserted that this system would be beneficial for the State and financial system would be more transparent and efficient in a better way.
Following on the directions of RBI and the decision taken during conference of Chief Secretaries and Finance Secretaries during august 2014 the implementation of e-receipts and e-payments for all the State Governments have been taken up on priority. In this regard, a standardised model has been established that is completely compatible with needs of each State Government, not withstanding their unique internal processes, ISO 20022 messaging standards for information flow, complete capability to integrate with State Government system with focus on security and integrity of messages.
The standardised e-payment model envisages straight-through-processing of electronic payments of the State Governments by establishing interface with e-kuber, secured integration has been established between e-kuber and e-kosh, centralised treasury system for Uttarakhand State Government.
The completely automated process flow in this model ensures end-to-end message processing, accounting and generation and dispatch of scrolls seamlessly. The model ensures that all payment are processed efficiently and beneficiaries will receive the payments with no delay. The state government will receive scrolls on a daily basis and thus, will be able to manage its funds more efficiently.