ManipurRegional Electronic Clearing Service (R-ECS) in Pension Payment System: Ensuring efficient payment to Pensioners

The payment system is one of the most important elements of a financial system and Government always looks for innovative ways of making hassle-free payments to individuals. Since electronic means of payment are both safer and more efficient, efforts are being made continuously to effect a change in the mode of payment from paper to electronic. For the benefit of pensioners in the state of Manipur, the State Government in consultation with RBI, Guwahati contemplated introducing the Regional Electronic Clearing Service (R-ECS) in the existing Pension Payment System from August 1, 2013.