In a bid to bring far more transparency and accountability in the smooth implementation of the various welfare schemes, the Punjab Government today issued written instructions for release of funds to the Panchayats and other beneficiaries through electronic Transfer system, instead of existing cheque system.Disclosing this, Finance Minister Parminder Singh Dhindsa said that the recent orders have been issued in pursuance of the directions given by Chief Minister Parkash Singh Badal. He said that the transfer of funds through electronic system would save the time, besides bringing accountability and transparency in the financial management.Dhindsa said that all the departments have been asked to strictly implement this system till October 31, 2012. He said that the departments have also been asked to get the bank account number and other relevant information of the beneficiaries so that the funds could be transferred through new e-payment system. He said that this system would enable the beneficiaries to get the financial assistance on the same day.Finance Minister said that it has also been instructed that till the new e-payment system come into force; the beneficiaries would get direct payments.