Payroll Automation for Disbursement of Monthly Allowances (PADMA)

In Context

  • Recently, the Ministry of Defense inaugurated PayRoll Automation for Disbursement of Monthly Allowances (PADMA), an automated Pay & Allowances module for the Indian Coast Guard.

About

  • PADMA is an automated platform leveraging latest technology which will provide seamless and timely disbursal of Pay & Allowances to around 15,000 Indian Coast Guard personnel. 
  • The launch marked the beginning of the Centralized Pay System (CPS).
  • This module has been developed under the aegis of Defense Accounts Department and will be operated by Pay Accounts Office Coast Guard, Noida.

Significance

  •  Launch of PADMA will strengthen the Digital India concept. Also, it is an ‘Atmanirbhar Bharat’ initiative as the entire module has been designed and developed by Indian entrepreneurs assisted by domain experts.

Centralized Payment Systems (CPS)

  • Centralized Payment Systems (CPS) in India are Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, both owned and operated by the Reserve Bank.
    • Real Time Gross Settlement (RTGS) enables real-time transfer of funds to a beneficiary’s account and is primarily meant for large-value transactions.
    • National Electronic Funds Transfer (NEFT) system is an electronic fund transfer system in which the transactions received up to a particular time are processed in batches. It is generally used for fund transfers of up to Rs. 2 lakh.

Source: PIB

 
Previous article National Statistics Day
Next article PSLV-C53 Mission

Other News of the Day

In News  The Union Cabinet approved the categorization of the Coalition for Disaster Resilient Infrastructure (CDRI) as an ‘International Organisation’. And signed of the Headquarters Agreement (HQA) with CDRI for granting it the exemptions, immunities and privileges as contemplated under the United Nations (Privileges & Immunities) Act, 1947. About Categorization of CDRI will provide it...
Read More

In News  ABHYAS – High speed Expendable Aerial Target (HEAT) was successfully flight-tested from the Integrated Test Range (ITR), Chandipur off the coast of Odisha.  About  The performance of the aircraft at low altitude including sustained level and high manoeuvrability was demonstrated during the test flight.  The target aircraft was flown from a ground based...
Read More

In News  The Cabinet Committee on Economic Affairs has approved Computerization of Primary Agricultural Credit Societies (PACS) . About  The project proposes computerization of about 63,000 functional PACS over a period of 5 years with a total budget outlay of Rs. 2516 crore with Government of India share of Rs. 1528 crore. Objectives  Increasing efficiency...
Read More

In News Recently, the Ministry of Tribal Affairs launched the second phase of the Going Online As Leaders (GOAL) program.  GOAL Program About: The programme is a joint initiative of the Ministry of Tribal Affairs and Meta (FaceBook).  It will create a platform for Self-Help Groups and families associated with TRIFED (Tribal Cooperative Marketing Development...
Read More

In News  Recently ,NITI Aayog released a report titled  Harnessing Green Hydrogen: Opportunities for Deep Decarbonisation in India . The report, co-authored by NITI Aayog and RMI. RMI RMI is an independent nonprofit founded in 1982 that transforms global energy systems through market-driven solutions to align with a 1.5° C future and secure a clean,...
Read More

In News Recently, the Cabinet approved a MoU between India, Singapore on Science, Technology and Innovation. About the MOU Aim and Objective:  The MoU will provide a mechanism and help in creating an ecosystem that will promote innovation and entrepreneurship in both countries leading to new technology creation, manpower training, and IP generation through collaboration....
Read More

In News Recently, the North Atlantic Treaty Organisation (NATO) Secretary-General announced the signing of a MoU between Turkey, Finland and Sweden in a trilateral meeting held in Madrid, Spain. About the memorandum of understanding The key provisions of the MoU include the following three points: A joint commitment between Turkey, Finland, and Sweden to counter...
Read More

In News Recently, the Union Finance Minister chaired the 47th meeting of the GST Council in Chandigarh and took the decision to hike tax on over two dozen goods and services from July 18. Major decisions and Recommendations at GST council meet Hike: Products ranging from unbranded food items, curd and butter milk to low-cost...
Read More