Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) is a government scheme that aims to provide financial assistance to small and marginal farmers in India. Under this scheme, eligible farmers receive direct income support of Rs. 6,000 per year in three equal installments.
To streamline the process of beneficiary identification and disbursement of funds, the government has introduced the concept of Electronic Know Your Customer (EKYC) in PM-KISAN. EKYC is a paperless authentication process that allows farmers to verify their identity electronically, without the need for physical documents.
The EKYC process in PM-KISAN involves the use of Aadhaar authentication, which is a unique identification number issued by the government of India. Farmers are required to link their Aadhaar number to their bank account, which serves as the primary mode of fund transfer under the scheme.
To complete the EKYC process, farmers must provide their Aadhaar number, biometric details such as fingerprint or iris scan, and other relevant information. Once the verification is successful, the farmer’s identity is validated, and they become eligible to receive the financial assistance under PM-KISAN.
The introduction of EKYC in PM-KISAN has simplified the verification process for farmers, making it quicker and more efficient. It has also reduced the chances of identity fraud and ensured that the benefits reach the intended beneficiaries in a timely manner.
Overall, EKYC has played a crucial role in enhancing the transparency and efficiency of the PM-KISAN scheme, contributing to its success in supporting small and marginal farmers across the country.