SRI KRISHNA MOHAN

A sound financial management system should ensure

◦ Timely availability of fund

◦ Reduced amount of idle fund

◦ Timely book keeping and an updated MIS

To achieve this goal Government has taken many technology based initiatives s.a. eFMS, CPSMS

In Bihar we are implementing CPSMS system.

Fund allocation decided

by Central Government

At least 60 % of

available funds is

utilized

MIS entry is 100%

complete

Central

Government

releases next

tranche of

funds to BRDS

Availability of Funds

at State Pool

Balance in the

Panchayat account is

less than 1 Lakh

MIS entry for

Panchayat is 100%

complete

District can

request funds to

be transferred

directly to

Panchayat

Salient features:

◦ All the payments to beneficiaries will be done electronically through bank account. Work is going on for payment to vendors as well

◦ Agencies will receive funds just in time resulting in complete elimination of idle fund

◦ Beneficiaries/Vendors can have accounts with any CBS bank

6

7

8

Uninterrupted availability of funds in State Pool account

ICT Infrastructure, specially connectivity

Accounts of beneficiaries in CBS branches (Accounts are mostly with post office, which are not using CBS )

Financial Inclusion to be completed by banks

Champions in the districts to promote these initiatives

Extensive and extended training, handholding support & troubleshooting support to field functionaries

Enhanced performance of various partners: banks, CPSMS team, post offices

Bank balance is updated with a lag of 1-2 days and in exceptional cases 7 days. In bank balance report one can see up to what date it has been updated (Screen Shot in next slide)

Ideally every agency should have only one account, apart from Zero Balance account. Some agencies do have more than one accounts registered with CPSMS

Please check, whether any agency has not yet been registered in CPSMS

◦ All accounts of beneficiaries should be shifted to CBS bank Branches from Post office

◦ Report should be submitted in timely manner

◦ Data entry on nrega.nic.in should be done on daily basis

◦ All pre-requisites conditions for release of central fund should be complied on timely manner

◦ Audit report should be submitted within scheduled time

Delay in update of balance of accounts: Matter has been taken up at different levels viz. RBI, SLBC

Double entry of data in CPSMS and nrega.nic.in: letter in this regard has been written to MoRD