Digital payment infra enables prompt cash transfer of Rs 28,256 Cr under PM Garib Kalyan plan
Robust digital payment infrastructure helped more than 30 crore people to receive financial assistance of Rs 28,256 crore under Pradhan Mantri Garib Kalyan Package announced by Finance Minister Nirmala Sitharaman
Robust digital payment infrastructure helped more than 30 crore people to receive financial assistance of Rs 28,256 crore under Pradhan Mantri Garib Kalyan Package announced by Finance Minister Nirmala Sitharaman on March 26 to protect them from the impact of the lockdown, an official statement said on Sunday.
A digital pipeline laid a few years ago -- through linking Jan-Dhan accounts as well as other accounts with the beneficiaries' mobile numbers and Aadhaar Jan Dhan-Aadhaar-Mobile (JAM) -- was instrumental in cash transfer under Pradhan Mantri Garib Kalyan package amid coronavirus pandemic.
This infrastructure pipeline is providing the necessary backbone for DBT flows, adoption of social security/pension schemes, etc, the Finance Ministry said in a statement on Sunday.
As part of Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan package relief package, more than 30 crore beneficiaries have been given support via direct benefit transfer through first installment during the last week. Two more installments of cash transfer will be done in May and June.
Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August, 2014 with an aim to provide bank accounts to unbanked persons, it said, adding out of around 126 crore operative CASA accounts as on March 20, 2020, more than 38 crore have been opened under PMJDY.
As many as 19.86 crore women Jan Dhan account holders received Rs 500 each in their account. The total disbursement under the head was 9,930 crore, it said.
Of the total disbursement, Rs 13,855 crore have gone towards payment of first installment of PM-KISAN. Under the scheme, nearly 6.93 crore out of 8 crore identified beneficiaries got Rs 2,000 directly in their account.
National Social Assistance Programme (NSAP) disbursed about Rs 1,400 crore to about 2.82 crore old age person, widow and disabled person, the ministry added.
Each beneficiary received an ex-gratia cash of Rs 1,000 under the scheme.
Talking about digital pipeline, it said, it has enabled interoperable, speedy and accurate transactions as the bank accounts are enabled to carry out both cash and digital transactions at bank branches, business correspondent (BC) points, merchant locations and on internet.
The Digital Payment Ecosystem includes Bhim Adhaar Pay, RuPay debit cards, and UPI.
Edited by Megha Reddy