Strive for seamless digital funds, classes to be learnt from NSE’s tech glitch: FM

Finance Minister Nirmala Sitharaman on Monday requested civil accounts officers to have a transparent roadmap for seamless digital funds, saying there are classes to be learnt from the “technology-driven glitch” that occurred at National Stock Exchange.
Addressing the forty fifth Civil Accounts Day she stated the Controller General of Accounts (CGA), who’s the bookkeeper of presidency accounts, has adopted nice systemic reforms.
Sitharaman stated that to maintain authorities accounts clear, the CGA should adapt and maintain tempo with altering expertise to maintain authorities account clear.
“Seamlessness of funds is extra essential,… I’ll carry it right here for instance to say even the place full foolproof programs are laid, you discover in NSE a few days in the past when there was a glitch, a form of technology-driven glitch, which no person may have anticipated, however that glitch has triggered us immensely and classes are being learnt.
“Maybe that was an issue of interoperability between the two exchanges, but that is the kind of thing where seamless digital payment is the goal that we have to aspire for. That was also an example that tells us about how seamless payment modes or technology-driven platforms can face. So, taking lessons from that, I would think seamless digital payments is something you have to clearly have a roadmap for,” Sitharaman stated.
The NSE had on Wednesday halted buying and selling on the inventory alternate for almost 4 hours attributable to a technical glitch.
The minister steered that the CGA ought to transfer in the direction of being extra paperless and person pleasant in its functioning and likewise goal for better integration with the Department of Expenditure and states.