Direct Benefit Transfer

DBT is being rolled out in a phased manner (43 districts taken up in the first phase from January 1, 2013 and extended to 78 more districts from July 1, 2013). Eventually, all districts in the country would be covered under the DBT scheme.
To facilitate DBT for delivery of social welfare benefits by direct credit to the bank accounts of beneficiaries, banks were advised by RBI (May 10, 2013) to:
1. open accounts for all eligible individuals in camp mode with the support of local government authorities,
2. seed the existing -accounts or the new accounts opened with Aadhaar numbers and ? put in place an effective mechanism to monitor and review the progress in the implementation of DBT.

SLBC Convenor Banks and Lead Banks should institute a monitoring and review mechanism to periodically assess and evaluate the progress made in the implementation.
The SLBC Convenor banks shall submit a monthly statement of district wise progress made in implementing DBT from the month ended April 30, 2013 by the 10th of the succeeding month to respective RBI Regional Office.

Accounting & Finance for Banking

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