GUWAHATI, Dec 21 - Marking the beginning of a new era of digitalization for the government, the State Bank of India (SBI) on December 19 signed an MoU with the Government of Assam for implementation of CMP (Cash Management Product) � an online treasury payment solution for the State Government. The MoU was signed at the SBI Local Head Office, Dispur, an SBI statement said.
The MoU was signed by B Deka Raja, Director of Accounts and Treasury on behalf of the Government of Assam and Gautam Bhattacharya, General Manager, SBI. Dr Ravi Kota, Commissioner Secretary, Finance Department, Assam, other finance department officials and Bhabesh Deka, Joint Director, Accounts and Treasury, Assam, and technical officials of the treasury department were also present.
PVSLN Murty, CGM, SBI Guwahati; Gautam Bhattacharya, GM-I; Panna Lal Das, GM-II; Praveena Kala, General Manager, Government Business, Corporate Centre, and other SBI officials were present.
Under this payment mode, Government drawing and disbursing officers will digitally upload a bill for payment to the treasury office concerned. The treasury officer will digitally authorise the bill and thereafter it will reveal online with the SBI CMP operation department located in Hyderabad. From here they will process the bills and within a few minutes, all accounts relating to salary or vendor payments will be credited to respective payees� accounts of all banks wherever they are maintaining the accounts, i.e. SBI accounts and all other bank accounts will be credited instantly.
Forty treasuries out of 60 treasuries of the Assam Government have since implemented this online solution.