Landbank, DBM sign agreement for online release of cash allocation notices
THE Department of Budget and Management (DBM) and the Land Bank of the Philippines (Landbank) have joined hands for the online release of Notice of Cash Allocation (NCA) to expedite the crediting of funds to government agencies.
Budget Secretary Amenah F. Pangandaman and Landbank Banking Services Group First Vice President Reynaldo C. Capa signed the Memorandum of Agreement for the Online Release of NCA in the Action Document Releasing System (ADRS) last December 7 at the DBM Head Office in Manila to formalize the partnership.
They were joined by Deputy Treasurer Eduardo Anthony G. Mariño III, Anti-red Tape Authority Officer-in-charge Ernesto V. Perez and representatives from other partner banks.
Under the agreement, the DBM and Landbank will be working together to institutionalize the release of NCAS in digital format. This will eliminate the unnecessary steps of printing, signing, routing and releasing of printed documents, thus making the funds available for the programs, activities and projects of agencies in the most immediate time.
“Landbank is committed to play our role in ensuring a more streamlined and efficient process in releasing NCAS,” Landbank President and CEO Cecilia C. Borromeo was quoted in a statement as saying. “We will continue to find avenues for collaboration to promote the immediate delivery of efficient and meaningful public service.”
The digital release of NCAS is in line with the implementation of Republic Act 8792 (Electronic Commerce Act of 2000) and RA 11032 (Ease of Doing Business and Efficient Government Service Delivery Act of 2018).
Landbank has been doing its share in establishing a digital payment ecosystem, as part of promoting the Ease of Doing Business and efficient government service delivery.
From January to October 2022, Landbank’s major digital banking platforms have facilitated a total of 123.3 million transactions amounting to P4.8 trillion, for 14 percent and 156 percent year-onyear growths in volume and value, respectively.