Section 49(3) in The Central Government Account (Receipts and Payments) Rules, 1983
(3)Cases of payment of Rs. 1 crore and above to a public sector undertaking/ Government aided institution, have to be authorised by the concerned PAO at New Delhi through the Reserve Bank of India, New Delhi, which will afford credit to the bank (current) account of the beneficiary by affording contra-debit to the Ministry's/ Department's account with the Reserve Bank. The date of payment in such cases will be the date indicated against the relevant entry in the payment scroll rendered by the Reserve Bank.
