Draft of 'e-Money Regulations' finalised: Salehuddin
About 1.4 million government employees now get salary directly in their bank accounts through electronic fund transfer, he says
Finance Adviser Dr Salehuddin Ahmed today (2 June) said e-Money Regulations have been drafted to create a secure and competitive environment for digital transactions.
"Using the iBAS++ system, about 1.4 million government employees now get salary directly in their bank accounts through Electronic Fund Transfer (EFT). EFT is also being used to pay allowances for social security programmes. The scope of payment through EFT is being gradually expanded," he said while presenting the proposed national budget for FY26.
Currently, Salehuddin said the budget formulation of all ministries and departments is being done through iBAS++ to connect with the policies and performances of the government.
Keep updated, follow The Business Standard's Google news channel
"The use of iBAS++ in field offices is rapidly expanding. Using the automated challan (A-challan) system, online revenue or fee payment is now available in all branches of 61 commercial banks and from anywhere using internet banking, debit or credit card, and mobile financial services," he added.
To expand the benefits of this system, he said, work is underway to complete the integration of different systems in phases.
