Indian Banks' Association (IBA) has directed all banks to start depositing Rs 500 per month into Jan Dhan Yojana accounts held by women starting 3 April.
The remittance under Pradhan Mantri Garib Kalyan Yojana will be credited to the accounts of beneficiaries between 3 and 9 April, IBA said in a statement.
Banks will transfer the money into the accounts of beneficiaries in a staggered manner to ensure social distancing at bank branches and customer service points while making withdrawal.
The amount will be deposited for the next three months starting 3 April.
Beneficiaries with 0 and 1 as the last digits of their Jan Dhan account numbers can withdraw money on 3 April. Those whose accounts end with digits 2 and 3 will be able to withdraw money on 4 April.
On 7 April, account holders with 4 or 5 as the last digits can withdraw the monthly remittance, while those having 6 or 7 in the last digits of their accounts can withdraw the sum on 8 April.
Women account holders whose account numbers end with digits 8 or 9 can withdraw the money on 9 April. “After 9 April, beneficiaries may withdraw money at on any bank any day at their convenience,” the statement said.
IBA has said “the money is safe and beneficiaries need not rush for withdrawal”.
To avoid crowding at bank branches, IBA has requested beneficiaries to use the neighbourhood ATMs, bank mitras and customer service points for making withdrawals and for cash at POS (point of sale) up to Rs 2,000.
The directive is based on the announcement made by Finance Minister Nirmala Sitharaman on 26 March t provide relief to the sections worst hit by novel coronavirus pandemic in India.
“A total of 20.40 crore PMJDY women account-holders would be given an ex-gratia of Rs 500 per month for next three months,” the Finance Minister has announced.
Updated Date: Apr 03, 2020 12:49:43 IST