The Hindu : Karnataka / Bangalore News : E-payment facility for NHAI contractors launched

Online edition of India's National Newspaper
Thursday, Jan 17, 2008
ePaper | Mobile/PDA Version

Karnataka

Karnataka - Bangalore

E-payment facility for NHAI contractors launched

Staff Reporter

It will cut delay in payments to them: Muniyappa

BANGALORE: Union Minister of State for Shipping, Road Transport and Highways K.H. Muniyappa on Wednesday launched e-payment facility to facilitate the National Highways Authority of India to make its payments to vendors and contractors. While the facility, the first of its kind in the country and enabled through a tie-up with Syndicate Bank, was confined to the five southern States, it would be extended throughout the country by March-end, the Minister announced.

This move, Mr. Muniyappa said, was to reduce delays in payment to contractors and agencies involved in road construction.

He said Syndicate Bank, the banker for the Ministry for the past three decades, would transfer funds to the account of the vendor/contractor within 24 hours on receipt of the advice after the bills were processed and pay order/advice issued by the Regional Pay and Accounts Office.

Secretary, Public Works Department, Sudhir Krishna; Syndicate Bank Chairman and Managing Director C.P. Swarankar; National Highways Authority of India Chief General Manager (Technical) S.K. Puri and other senior officials were present.

Japanese aid

According to Mr. Krishna, the State Government is planning to seek a soft loan from the Japanese Bank for International Cooperation to develop and maintain 37,000 km of major district roads (MDR).

Printer friendly page
Send this article to Friends by E-Mail

Karnataka

News Update

Stories in this Section