Bank of Baroda and FSSAI Sign MoU to Launch Customised Web-Based Payment Solution

NEW DELHI:
Bank of Baroda (Bank), one of India’s leading public sector banks, has signed a Memorandum of Understanding (MoU) with the Food Safety and Standards Authority of India (FSSAI) to provide a customised web-based payment solution – ‘FSSAI Payment Solution’.

The MoU was signed by Sharad Aggarwal, Director, FSSAI, and Mini TM, Chief General Manager & Zonal Head, New Delhi Zone, Bank of Baroda, in the presence of Rachna Mishra, General Manager, Govt Relationship, M.V.S Sudhakar, DGM (Business Development), Baljeet Singh, DGM, Govt Relationship, New Delhi, Samir Kumar Ojha, DGM & Regional Manager, South Delhi Region and Manish Kumar Mishra, Deputy Director, FSSAI.

This collaboration aims to promote ease of doing business by streamlining the digital payment interface with various stakeholders engaging with FSSAI. The solution will simplify and automate the disbursement of grants, vendor payments, and Management Information System (MIS) functionalities. The implementation of this IT-based platform will enable FSSAI and its affiliated agencies to manage grants and payments efficiently. It will also ensure effective monitoring and control over the Nodal Account, including seamless fund flow to State Child Accounts and District Sub-Child Accounts for improved financial oversight and transparency.