According to the Ministry of Electronics and IT, more than ₹24.8 lakh crore has been transferred through DBT mode since 2013, ₹6.3 lakh crore in FY 2021-22 alone; on an average >90 lakh DBT payments are processed daily (in FY 2021-22).
Key highlights
- Under the 11th installment of PM Kisan Samman Nidhi Yojana, around ₹20,000 crore was transferred directly into bank accounts of more than 10 crore beneficiaries (more than 10 crore transactions at click of a button on a single day).
- As far as Digital Payments are concerned, more than 8,840 crore digital payment transactions performed during 2021-22 and nearly 3,300 crore in FY 2022-23 (upto 24th of July 2022); on average 28.4 crore digital transactions are performed in a day.
- This success story of India in creation of digital assets (DBT, JAM trinity, NPCI etc) can be an example from which not only ‘developing’ but also ‘developed’ countries may learn.
About Direct Benefit Transfer (DBT)
- The Direct Benefit Transfer (DBT) was started on 1st January, 2013.
- The DBT aims to reform Government delivery system by re-engineering the existing process in welfare schemes for simpler and faster flow of information/funds and to ensure accurate targeting of the beneficiaries, de-duplication and reduction of fraud
