Depts to open a/c with RBI for ₹100 cr transfers
The Finance Ministry has asked ministries​ and departments to open e-FPB (Electronic Focal Point Branch) accounts with RBI for receipts or payments exceeding ₹100 crore, reports said. The account will facilitate the government to collect non-tax revenue payments from PSUs and transfer funds for schemes. A governing body would be formed to monitor proper utilisation of funds, an official said.