Digital payments make it easier to transfer money under Garib Kalyan program
A robust digital payment infrastructure enabled the cash transfer of Rs 28,256 crore to over 31 crore to beneficiaries under the government-announced Pradhan Mantri Garib Kalyan Yojana financial aid program, the Ministry of Finance said on Sunday. Finances.
Finance Minister Nirmala Sitharaman last month announced a financial aid package of 1.7 trillion rupees, including a cash transfer for the poor to help them tackle the impact of the covid epidemic. 19.
“A digital pipeline has been set up by linking Jan-Dhan accounts as well as other accounts with the cell phone numbers of account holders and Aadhaar [Jan Dhan-Aadhaar-Mobile (JAM)]. This infrastructure pipeline provides the necessary backbone for DBT flows, adoption of social security / pension schemes, etc. The Ministry of Finance said on Sunday.
The government has always maintained that JAM trinity allows for the transfer of funds, without cash, sealing leaks in the system.
As much as Rs 9,930 crore was transferred to Jan Dhan account holders of 19.86 crore from poor women, the ministry said. The first installment of Rs500 was transferred to the female Jan Dhan account holders. The next two installments will be paid in June and July.
As part of the government’s financial inclusion plan, Pradhan Mantri Jan Dhan Yojana was launched in 2014 to provide bank accounts to the unbanked.
“Bank accounts are allowed to conduct cash and digital transactions at bank branches, Commercial Correspondent Points (BCs), stores and on the Internet. Thanks to biometric identification, very profitable payment solutions like AePS / Bhim Aadhaar Pay have been created. both for banking services and for retail payments, ”the ministry said.
Of the 28,256 crore rupees that were transferred by the government, under the National Social Assistance Program for Elderly Widows, Divyangs and the Elderly, 2.82 crore of beneficiaries received 500 rupees each as their first. installment, the Ministry of Finance announced on Saturday. The second installment will be paid in May.
About 6.93 crore from farmers also received 2,000 rupees each as an advance payment under PM-Kisan in the amount of 13,855 crore rupees. State governments have also paid Rs 3,066 crore to Rs 2.16 crore construction workers from the Social Welfare Fund for Building and Other Construction Workers with an accumulated fund size of Rs 31,000 crore, as indicated by the center.
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