Introduction of “Cyber Treasury” for Just-in-Time release of CSS Funds
Finance, CSS , Cyber Treasury 👁️ 101
Governor is please to open a new Treasury to be named as the Cyber Treasury (Treasury Code: CAG) which would be a virtual Treasury like the one we already have for the GRIPS receipts namely e-Treasury.
Government of West Bengal
Finance Department, e-Governance Group
Nabanna, Howrah-711102
No. 9-F(e-Gov) Dated: 02/01/2025
Sub: Introduction of “Cyber Treasury” for Just-in-Time release of Centrally Sponsored Schemes (CSS) funds
PFMS Division of Department of Expenditure under the Ministry of Finance, Government of India proposed SNA-SPARSH or “Just-in-Time” release of Centrally Sponsored Schemes (CSS) funds through e-Kuber platform of Reserve Bank of India (RBI) vide letter no F. No. I(27)/PFMS/2020 dated 13th July, 2023.
Government of India and PFMS Division, Ministry of Finance mandated that all the States have to create a Cyber Treasury which will function as single point interface to carry out all payment transactions through seamless tripartite integration of state IFMS Portal with that of PFMS and RBI e-Kuber. The main objective of this model is to release funds just at the moment when payment to ultimate beneficiary is needed without parking them in a Bank Account or a Deposit Account thereby augmenting the liquidity position of both the Governments.
Hence, the Governor is please to open a new Treasury to be named as the Cyber Treasury (Treasury Code: CAG) which would be a virtual Treasury like the one we already have for the GRIPS receipts namely e-Treasury. The RBI Kolkata shall act as the Agency Bank in respect of this newly introduced Cyber Treasury.
All the existing DDOs under the West Bengal Government when mapped with any Institutional Agencies in relation to any CSS scheme under SNA-SPARSH would be on boarded under this newly introduced Cyber Treasury.
Initially one Joint Director of Treasuries & Accounts and one Deputy/ Assistant Director of Treasuries & Accounts will act as Treasury Officer and Additional Treasury Officer respectively in this newly introduced Cyber treasury. Director, Directorate of Treasuries & Accounts, West Bengal being the Head of Office the “Office of the Director of Treasuries & Accounts” will act as such in respect of the new Cyber Treasury and may authorise the said officers to submit the monthly accounts to AGWB.
The said Treasury will commence work from the date of on boarding of the first scheme on to the SNA-SPARSH platform.
This issues with the concurrence of Finance Group T vide UO No: Group T/2024-2025/0917 UO Date: 06/12/2024.
Necessary modification in West Bengal Treasury Rules, 2005 will be made in due course.
Secretary to the Govt. of West Bengal
Finance Department