Over 68.7 crore transactions done under PM-KISAN scheme: Govt

As many as 68.76 crore transactions have been done under PM-KISAN scheme till the end of June this year and less than one per cent of them failed due to dormant bank accounts and other factors, the government said on Tuesday.Under the Pradhan Mantri Kisan Samman Nidhi PM-KISAN, the Centre provides Rs 6,000 per year to eligible farmers in three equal instalments of Rs 2,000 each.The flagship PM-KISAN scheme, which was announced in the Union Budget presented in February 2019, was implemented with retrospective effect from December 2018.Under the PM-KISAN Scheme benefits are transferred in three, four-monthly periods.

As many as 68.76 crore transactions have been done under PM-KISAN scheme till the end of June this year and less than one per cent of them failed due to dormant bank accounts and other factors, the government said on Tuesday.

Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), the Centre provides Rs 6,000 per year to eligible farmers in three equal instalments of Rs 2,000 each.

The flagship PM-KISAN scheme, which was announced in the Union Budget presented in February 2019, was implemented with retrospective effect from December 2018.

''Under the PM-KISAN Scheme benefits are transferred in three, four-monthly periods. In every four months period, Rs 2,000 is transferred to eligible farmers families. Therefore, benefits of Rs 6,000 is transferred annually,'' Agriculture Minister Narendra Singh Tomar said in a written reply to the Lok Sabha.

The cumulative number of PM-KISAN scheme transactions which have failed since its launch till June 2021 is 40,16,867, he said.

''The number of total transaction made under PM-KISAN Scheme till 30th June, 2021 is 68,76,32,104 of which the total number of failed transaction is less than 1 per cent,'' the minister said. The Centre has identified various reasons for the transaction failure under the scheme such as account closed/transferred, invalid IFSC, account inactive, account dormant, amount exceeding limit set on account by bank for credit/debit per transaction, account holder expired, account blocked or frozen, inactive Aadhaar, network failure etc. To tackle the issue of transaction failure and process the payment to such registered farmers’ families, a Standard Operating Procedure (SOP) has been developed and issued to states/UTs for necessary action at their end.

In cases where the corrective measures are to be taken by states/UTs, such transaction failure records are opened to respective state/UT for correction under the 'Correction Module' tab of PM-KISAN portal. Thereafter, all the transaction failure records are reprocessed for the payment of the respective installment under the scheme.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)