Following are, in brief, steps involved in electronic payment of Vendor Claims :
This office prefers and encourages making payments through Electronic Payment as per the guidelines and provisions of Central Vigilance Commission (CVC) and from Govt., of India, Min., of Defence (MoD).. The benefits of this Electronic Payments Service are as follows:
1. You will receive the payment within 3 working days from the date of release of the same by this office.
2. The payment will directly reach your Bank Account.
3. No physical transaction of money/dispatch of any instrument or cheque is involved.
4. EDP Budget Monitoring.
Delay or other mishappenings like loss of the cheque in transit or misplacement at the vendors' place are avoided once for all.
Monitoring of right payment to the right Bank Account is automatically ensured through established means of Banking.
This office has commenced Electronic payments including third Party Vendor Payments electronically. Salient features of this System are given below:
SBI and AXIS Banks are the Sponsoring Banks for effecting Electronic Payments under CDA(Army)-Meerut.
Under this arrangement, Payment into the Public Fund accounts, individual payments and vendor payments are effected either through SBI or AXIS bank electronically.,
For this purpose a Mandate form in a specified format, which contains all the details like Name, Account number, the Bank/branch where the account is, MICR code, IFSC code etc is to be filled and submitted to this Office. These Mandates are to be obtained, from the Vendors by the Units and are sent to this office for effecting payments electronically.