As part of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme, the government of India has made eKYC (Electronic Know Your Customer) mandatory for all farmers to receive the benefit. Under the PM-Kisan scheme, a financial assistance of Rs. 6,000 is provided annually to farmers in three instalments.
The eKYC process is a verification process wherein farmers are required to provide their Aadhaar details and other personal information to establish their identity. This information is then verified against the records held by the UIDAI (Unique Identification Authority of India). Once the verification process is complete, the farmer’s bank account is linked to the PM-Kisan scheme, and the financial assistance is disbursed.
The eKYC process ensures transparency and eliminates the need for farmers to visit government offices to complete the KYC process physically. It also reduces the chances of errors or duplications in records, making the process more efficient.
The decision to make eKYC mandatory for farmers under PM-Kisan is part of the government’s efforts to promote digitalization and reduce paperwork. The government has also introduced several other initiatives, such as the Digital India program, to achieve this goal.
While eKYC may seem like a small step, it plays a crucial role in promoting financial inclusion and access to welfare schemes for farmers. By linking their bank accounts to the scheme, farmers can receive financial assistance directly, without the need for middlemen or agents. This not only simplifies the process but also helps the government ensure that the benefits reach the intended beneficiaries.
In conclusion, mandating eKYC for farmers under PM-Kisan is a significant step towards digitization and financial inclusion. It not only simplifies the verification process but also improves transparency and reduces the chances of errors. It is an important initiative that will help farmers access the benefits of the scheme efficiently and directly.