Digitization Of Kerala’s Department Of Treasuries: E-Wallet Provision For Government Personnel
Digitization has played a significant role in modernizing various industries, especially the Finance Sector, with several Fintech startups bringing out new ways of handling Finances digitally. Adding to this era of digitization is Kerala’s Department of Treasuries, establishing an e-wallet service that will be highly beneficial for the Kerala Government personnel.
The National Informatics Centre (NIC) of the Indian Government’s Ministry of Electronics and Information Technology built the e-wallet application used by Kerala’s Department of Treasuries.
Kerala’s Treasury Department’s e-wallet service will enable the current Government staff and the pensioners with treasury accounts to make straight online cash transfers. At the moment, all of Kerala’s Government agencies use the e-Treasury Website to conduct any transactions related to finance.
With the e-wallet coming in place, the e-Treasury system will be connected to the digital wallet, allowing cash to be digitally transferred to the electronic wallet from accounts in the treasury. Government personnel with Treasury accounts will be able to use the online payment feature in their digital wallets to make online cash transfers or even deposits.
The e-wallet facility introduced in Kerala’s Department of Treasuries has several advantages. However, the most significant merit to be gained is the reduction in commission fees for carrying out financial transactions, which are usually high when done through digital banking services.
Over the years, people’s number of online transactions has kept increasing. Digitization has made it easy for individuals to carry out their day-to-day work and for small, medium, and large-scale organizations to gain work efficiency in their various business operations. The Department of Treasuries, operated by the Government of Kerala, has taken a significant step by providing the e-wallet service to its personnel, which will make financial transactions carried out with lesser efforts and lesser costs, in turn improving work efficiency.
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