CIPS for e-Payments
üFull form – CIPS – Centralized Integrated Payment System
üNew system for arranging e-Payments in Indian Railways
üPriority area for system improvement to ensure online payments without manual intervention.
üPartner is SBI – State Bank of India
üCoordination by Northern Railway
üImplemented by CRIS – Centre for Railway Information Systems
üPilot project of CIPS –COFMOW in April, 2019. Rolled out in Indian Railways from September, 2019.
üMandating SBI – State Bank of India to credit various accounts (payments) on behalf of Indian Railways
üCIPS integrated with IPAS – Integrated Payroll and Accounting System
üEach Zonal Railway may register nominated cheque signing officials in IPAS
üThen Public key of the signatories can be shared to Bank in advance
üRequire authorized signatories to have digital token and they should be registered with IPAS.
üEnables seamless payments to outsiders in Indian Railways without manual intervention.
Material for MCQ – Multiple Choice Questions for CIPS
1. CIPS – Centralized Integrated Payment System
2.Partner – SBI
3.Implemented by CRIS
4.Nodal Railway – Northern Railway