Union Finance Minister P Chidambaram on Monday said the Direct Cash Transfer (DCT) scheme to the targeted sections of people “will be a simple and error-free” arrangement with the utilisation of technology.

Addressing officials of Puducherry government and various banks at a meeting organised by state level Bankers Committee in Puducherry, Mr. Chidambaram said “with the availability of banking technology, the scheme is not a complex arrangement but an easy programme.”

“Banking technology is a black box technology and there was absolutely no room for mistakes, corruption or human interference in the operation of the scheme”, he said.

The Centre was releasing as much as Rs 2,00,000 crore as subsidies under various schemes for the targeted sections across the country. The intention of the government was to ensure that the DCT scheme was implemented by the end of 2013 in the country as a whole.

He asked bankers and officials to ensure that there was inclusion of beneficiaries in the scheme to provide them advantages of the 15 centrally sponsored schemes implemented in Puducherry.

Mr. Chidambaram said he was confident that the DCT to beneficiaries linking Aadhar linked bank accounts would go on stream successfully on January 1 in Puducherry.

He also reviewed preparations made by the banks and government departments as part of rolling out the scheme in the union territory, comprising Puducherry, Mahe and Yanam regions.

The schemes included post-matric scholarship for Scheduled Caste students and Other Backward Classes, national-means-cum merit scholarship implemented by the Directorate of Education, incentive for the girl students for secondary education and benefits under permanent disability assistance.

Mr. Chidambram praised the “excellent” work the bankers had done while implementing various schemes earlier including the waiver of the farmers loans totalling Rs. 70,000 crores announced in 2008. He also lauded the bankers in making available educational loans. As many as 24 lakh students have been benefitted with sanction of Rs. 52,000 crores benefitting 24 lakh students across the country.

Chief Minister N. Rangasamy who spoke on the occasion thanked the Centre for including the Puducherry district under the innovative scheme.

He said that the direct transfer of benefits would be of help for the beneficiaries as there would be no interference by middlemen and without leakages of the benefits.

More In: Economy | Business | National | News