Ensure smooth transfer of funds to Jan Dhan accounts, banks told

Replenish ATMs regularly to meet requirement: FinMin

The Finance Ministry has asked all the banks to ensure smooth transfer of ₹500 per month to Jan Dhan accounts of all women account holders, announced by Finance Minister Nirmala Sitharaman on Thursday to support families due to the nation-wide lockdown to halt the spread of COVID-19.

“You are requested to ensure that the said amount is transferred smoothly, to the targeted accounts, so that the beneficiaries can get access to the funds during the difficult time to carry on their livelihood without facing hardships,” the Finance Ministry said in a communication to chief executives of public and private sector banks. The government has decided to transfer ₹500 per month for three months in such accounts.

The Ministry has asked the lenders to draw up a list of beneficiaries and share it with the Ministry. “After receiving this data, the date of transfer will be intimated,” the letter said.

Branch-level liquidity

The Finance Ministry also asked the banks to ensure adequate liquidity with the bank branches and also with business correspondents.

Banks have been asked to regularly replenish automated teller machines, and arrange mobile ATMs with sufficient cash, where required.

The Ministry also asked the banks to inform beneficiaries regarding the time schedule of the withdrawal via SMS.

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Printable version | Mar 29, 2020 9:20:55 AM |

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