India Going Digital; In A Single Day Rs 71,633 Crore Transacted Via Digital Transactions On March 28
A record Rs 71,633 crore was processed and routed via digital transactions through the Public Financial Management System (PFMS) portal on March 28, the government announced on Thursday.
A Union Finance Ministry statement said the "historic" number of such transactions for a single day was recorded on Wednesday.
"On March 28, an amount of Rs 71,633.45 crore has been digitally transacted/routed through PFMS Portal for 98,19,026 transactions. This is a historic record of number of digital transactions processed in a single day," it said.
Of this, Rs 52,292 crore was transferred to state governments, while other digital payments by Principal Accounts Offices were to the tune of Rs 13,040 crore.
Besides, direct benefit transfer (DBT) payments by implementing agencies accounted for Rs 2,493 crore, while other digital payments were to the tune of Rs 2,472 crore.
Being implemented by the Controller General of Accounts, PFMS provides a platform for efficient management of funds through tracking of funds and real time reporting of expenditure and receipts through treasury and bank interface, the statement said.
"The line ministries/departments utilise this platform to monitor the utilisation of funds provided to the implementing agencies and state governments. PFMS is also used for DBT payments under MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) and other notified schemes of the Government of India," it added.