Govt depts must make payments above ₹5,000 online: FM
The Finance Ministry on Monday made it mandatory for the government departments to make payments above ₹5,000 to suppliers, contractors, grantee/loanee institutions, among others, through e-payment. Further, the Ministry has directed all the departments to implement the new order with immediate effect. This comes amid PM Modi's advocation for a cashless economy to end corruption and black money.