Jairam Ramesh to launch direct cash transfer in AP on 2 Jan

Rajahmundry: Union Minister Jairam Ramesh will launch the direct cash transfer scheme from Gollaprollu Mandal of East Godvari district of Andhra Pradesh on January 2, a senior official said today.

East Godavari district collector Neetu Kumari Prasad said the Union Rural Development Minister will launch the direct cash transfer scheme from Gollaprollu Mandal on January 2. Stipends, pensions and schemes will be launched from Gollaprollu mandal on that day, she said.

[caption id=“attachment_570130” align=“alignleft” width=“380”]  There are 42 shops in this mandal and 35 shopshave been selected for this scheme.PTI[/caption]

The collector directed officials to take all necessary steps to open bank accounts for students and others eligible, who had not opened their accounts. Gollaprollu has been selected for the Aadhar-based directcash transfer pilot project. There are 42 shops in this mandal and 35 shopshave been selected for this scheme.

More from Economy

Inflation likely to be a big focus area for budget 2024, say sources Explained: Will the Bank of Japan break tradition and raise interest rates?

Under the cash transfer scheme, the subsidy amount will not be deposited in bank accounts’ of cardholders immediately. It may take at least one month to get the amount. As soon as the subsidy amount is deposited in bank accounts, a message will be sent to the cell phone of card holders.

The Aadhaar Enabled Payment System (AEPS) is an Indian payment system developed by the National Payment Corporation of India (NPCI) based on the unique identification number.

The system allows a person holding an Aadhar number to carry out financial transactions on a micro-ATM provided by the bank correspondent.

Mahatma Gandhi National Rural Employment Guarantee (MGNREG) wages in Jharkhand, social old age pension in Tripura and scholarship disbursement in Maharashtra are being serviced through the AEPS.

PTI