Government offices to open record with RBI for Rs 100 crore in addition to reserve exchange


NEW DELHI: Seeking to encourage electronic asset exchanges, the Finance Ministry has asked different services and offices to promptly open e-FPB accounts with the RBI for receipt or installments surpassing Rs 100 crore. 

The e-FPB (Electronic Focal Point Branch) record will be utilized by the administration to get non-charge income installments like profits from PSUs and banks, and to make reserve exchanges for arrangement plans. 

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As indicated by sources, all services and divisions habeen asked to "quickly open an e-FPB account with the RBI for gathering of non-assessment incomes of the administration surpassing Rs 100 crore". 

The non-charge income entrance (NTRP) has been made operational by the Public Financial Management System (PFMS) for gathering of non-assessment incomes of the administration. 

"The NTRP has been made operational. All Pay and Accounts workplaces are relied upon to be incorporated with the NTRP in the blink of an eye for accumulation and bookkeeping of non-expense income," an authority said. 

The administration has planned to gather over Rs 3.22 lakh crore in current monetary from non-charge incomes, which incorporates interest, profits and concedes.

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