"The nature of functioning of the department has changed over the last so many years. Time has come to change the name of the department from Defence Accounts Department to Defence Finance Department.
"We have sent the proposal finally (to the government) to change the name of the Defence Accounts Service to Defence Finance Service," Sunil Kohli, Controller General of Defence Accounts, said.
He was speaking at an event to mark the 270th Defence Accounts Service Day which was also attended by Defence Secretary G Mohan Kumar.
IDAS officers are group 'A' defence civilian officers. The department serves the three defence services, DRDO, Border Roads Organisation and ordnance factories. It renders service in areas like financial advise, payments, accounting and audit.
It traces its history to 1747, from the days of the British East India Company, and is one of the oldest civil services in the country.
Mr Kohli said the department has also sent another proposal to earmark budget which could be used for carrying out digitilisation and computerisation of the department in order to implement pensions in a better way.
Defence Secretary Kumar also emphasised on the need to undertake complete digitilisation and reduce paperwork.
Mr Kohli said the service has evolved over the years and the demand for change of name was to convey the "right kind of job" done by the department.