A memorandum of understanding (MoU) has been signed between the State Bank of India and the State’s Panchayati Raj Department for payment of State Finance Committee and Central Finance Committee funds on e-platform.
The agreement was signed in the presence of PR Department Commissioner-cum-Secretary Deoranjan Kumar Singh and SBI Chief General Manager BVG Reddy on April 21.
This is one of the biggest welfare expenditures of the PR Department to the tune of Rs 6,000 crore meant for all-round development of gram panchayats and urban local bodies. Due to the new initiative, funds will be remitted online to the beneficiaries of 6,211 gram panchayats, 314 blocks and 30 Zilla Parishads. MIS will be available next day.
The Panchayati Raj Department has taken several online initiatives like in IAY and MGNREGA schemes in the past.