Indian Bank has introduced public financial management system (PFMS), facilitating payment services for government agencies. The bank’s MD and CEO Kishor Kharat launched the service recently. The system is designed to help the government agencies for processing payments, tracking, monitoring, accounting, reconciliation. Currently, the facility was being used for NREGA transactions in Tamil Nadu and Andhra Pradesh. The bank has also launched ‘Bharat QR’, a mobile payment collection facility to accept digital payments.
