DIPP becomes first government department to have cashless transactions

NEW DELHI: The Department of Industrial Policy and Promotion (DIPP) has implemented an electronic payment system to become the first government department to have 100 per cent cashless transcations.

The move is part of the government's efforts to encourage use of plastic money in the country help in moving towards a cashless society.

"DIPP emerges as the first Department of GOI (Government of India) to implement the system of 100 per cent receipt and payments in an electronic/cashless manner," the department said in a tweet.

The development would also help in improving ease of doing business in the country.

India is currently ranked 142nd among 189 nations in the World Bank's Ease of Doing Business 2015 study. With the exception of two parameters (getting credit and protecting minority investors), India does not feature in the top 100 in the remaining parameters.