BANKING AFFAIRS

Detailed explanation-1: -Notes: DBT beneficiaries can withdraw their money through the micro-ATMs, AePS and BHIM Aadhaar Pay. Customer who want to receive entitled benefits or subsidies of welfare schemes funded from the Consolidated Fund of India in their account directly, can avail it via Aadhaar-based authentication using e-KYC .

Detailed explanation-2: -Direct Benefit Transfer Schemes in the state With DBT program, GoI aims to make payments directly into the Aadhaar linked bank accounts of the end beneficiaries, removing any malpractices from the existing system such as diversions and duplicate payments.

Detailed explanation-3: -MNREGA, PM-AWAS, PM-KISAN, DBT-PAHAL etc. are some examples of such systems.

Detailed explanation-4: -DBT Process The following are the steps or sub-sections, which are the major checkpoints in the Direct Benefit Transfer process: Public Financial Management System (PFMS) registration. Examination of eligibility of the beneficiary. Verification of the beneficiaries’ bank account/ Aadhar Enabled bank account.

Detailed explanation-5: -These include PAHAL (modified DBTL for LPG subsidy), Public Distribution System (PDS) in Puducherry, Chandigarh and Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) payments in Jharkhand, Bihar, etc.