e transfer of funds in ssa madhya pradesh n.
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E-Transfer of Funds In SSA Madhya Pradesh

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E-Transfer of Funds In SSA Madhya Pradesh. Introduction . The State Bank Of India & State Bank Of Indore provide coverage of more than 8 5% of total accounts.

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  • The State Bank Of India & State Bank Of Indore provide coverage of more than 85% of total accounts.
  • To reduce number of Accounts and to have better financial Control and Monitoring MOU entered with State Bank Of India and State Bank Of Indore

Accounts Position

  • State Bank Of India – all 50 Districts
  • State Bank Of India - 224 Blocks
  • State bank Of Indore – 90 Blocks
  • Union Bank Of India - 3 Blocks
  • In each branch thereare 4 accounts at district level of and 2 accounts at the block
  • Accounts for PTA/Panchayats (for Civil Works) have been opened in 8 Nationalized Bank with priority for SBI/SB Indore
  • In exceptional cases permission has been given to open accounts in other banks like Syndicate Bank (in 2 Blocks) and Bank Of Baroda
distribution of funds via e transfer
Distribution of Funds via E-Transfer
  • The SPO is directly transferring Funds to :
mode of transfer of funds
Mode Of Transfer of Funds
  • State Bank Of India is provided with single cheque along with the list of recipients by the SPO
  • If the Account is in SBI/SB Indore or in any NEFT bank – transfer with in 24 hours.
  • In case of accounts in other banks- a banker’s cheque is given by the nodal branch to the respective bank who in-turn transfer the amount to their branches within 7 days.
distribution of funds via e transfer1
Distribution of Funds via E-Transfer

Fund Transfer from District Office to :

When ever there is a transfer of funds through E-Transfer SPO/DPO make available the

letter containing the details about fund distribution on SSA website (www.ssa.mp.gov.in)

and also by post to respective agencies.

mode of transfer from district
Mode Of Transfer from District
  • State Bank Of India is provided with single cheque along with the list of PTA/Panchayats etc by the DPO
  • If the Account is in SBI/SB Indore or in any NEFT bank – transfer with in 24 hours.
  • In case of accounts in other banks- lead branch of concerning bank is given a banker’s cheque by the nodal branch who in-turn transfer the amount to their branches in the District within 7 days.
  • On viewing the fund position of various Districts/Blocks the State Office/ DPO releases further grant to sub-ordinate offices
distribution of funds via e transfer2
Distribution of Funds via E-Transfer
  • The SPD is transferring 68% of SSA budget directly from SPO to Concerning Agencies.
  • The DPD is transferring 30% of SSA budget from DPO to the concerning agencies.
  • Thus 98% of SSA budget is routed through E-Transfer mode.
difficulties before e transfer
Difficulties Before E-Transfer
  • Excessive Delays in transfer of funds to field level as much time lost in preparation of Demand Drafts and delivering them
  • More manpower/man days were involved in transferring funds to field level by manual means
  • No tracking of financial position at field level

(dependent on position as reported by field)

  • Difficult to complete activities on time due to non-availability/delayed transfer of funds
difficulties before e transfer1
Difficulties Before E-Transfer
  • Unable to monitor the financial progress on real time basis
  • Bank reconciliation was not updated for several months
  • The pattern of drawl by the sub offices could not be monitored
  • In ability to detect malpractices/frauds as funds reversal was by means of demand draft
benefits of e transfer
Benefits of E-Transfer
  • Making availability of funds to the field level offices instantaneously
  • The field level offices where major expenditure of the mission takes place, will have quicker access to their funds Which help them in timely completion of activities.
  • There is a considerable saving of manpower/ man days which was consumed in the earlier practice of transfer funds through manual methods
  • The entire process of E-banking is made available to the mission free of Cost
improved financial governance
Improved Financial Governance
  • Expenditure Tracking & Transparency
  • Financial (Cash) Status of the entire mission at any point of time can be known
  • Statement of the district accounts can also be downloaded and printed any time through CINB by State Authorities.
  • The initiation of fund transfer on the basis of real time balances of sub-ordinate offices
improved financial governance1
Improved Financial Governance
  • There is no time loss in obtaining bank reconciliation statements as they can be had on-line
  • The financial progress of sub offices can be monitored on real time basis and in fact this had a tremendous impact while improving the expenditure of the mission in the year 2008-09 to 83%
  • Malpractices such as cash withdrawals can be curbed as banker has been given direction not to allow drawl after a certain limit.
web based monitoring of funds
Web Based Monitoring Of Funds
  • The SPD has been provided with super user- id & Password, which allows access to all of the Accounts of Districts/Blocks/ Gram Panchayats across the State through
    • www.onlinesbi.com
    • www.onlinesbindore.com
  • Each District office has been provided with independent user-id& Password for monitoring the accounts pertaining to their Districts/ Blocks/ Gram Panchayats
  • The internal audit cell at SPO is monitoring the E-Transfer related activities such as timely flow of fund, pattern of fund drawl etc

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