The Industry ministry will hold consultations with the representatives of the Controller General of Accounts (CGA) and Reserve Bank of India (RBI) to work out a payment mechanism to operationalise the e-biz project that seeks to improve business climate in the country.
“We are likely to meet on March 19 in this regard… The RBI and CGA have no issues. We need to have further meetings with CGA,” an Industry ministry official said.
In order to improve the business environment in the country,the Department of Industrial Policy and Promotion (DIPP),a wing of the Industry Ministry,has proposed to introduce e-biz model under which an entrepreneur can apply for all approvals and licences which are needed to start a unit.
The payment gateway,being worked out by the Industry Ministry in consultation with the CGA and RBI would help the entrepreneur in making payments the necessary fees for obtaining the clearances and licences.
The official said,”it (payement gateway) would enable entrepreneurs to submit one integrated application for multiple licenses and make a consolidated payment for the various licenses that they require”.
While the Reserve Bank of India (RBI) regulates all payments received from abroad,the CGA is responsible for upkeep of the government accounts.
“The project would at least take a year’s time after designing. It will serve as a one-stop shop and eliminate the need to physically interface with various regulatory authorised at the Central,State and local government levels,” he added.