Only e-payments Over Rs.5000, FM Told Ministries

New Delhi: Today, Union Finance Ministry instructed all the ministries and departments to make e-payments for the dues over Rs.5000. Earlier this year the cap set for such payments is Rs.10,000. But now in order to encourage more digital transactions and to meet the currency crisis the ceiling is reduced to Rs.5000. Expenditure Department of Finance Ministry issued a Memo, which said "All departments and ministries of the GOI should ensure with the immediate effect that all the payments above Rs 5,000 to contractors, loan institutions, suppliers etc should be made by the stipulated payment advises only.”