PM-KISAN 20th installment money to be credited to bank accounts of 9.7 crores farmers today

The Central Government will disburse the 20th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) to the bank accounts of 9.7 crores farmers. Prime Minister Narendra Modi will release the installment from Varanasi today through Direct Benefit Transfer (DBT). As many as 9.7 crore farmers will receive the money today.

As per government sources, approximately Rs 20,500 crore will be disbursed in the 20th installment of PM-KISAN Scheme. This is aimed at ensuring transparency and eliminating the role of any middlemen.

As many as Rs 3.69 lakh Crore has been transferred to farmers’ accounts in the 19 installments previously delivered. It is central sector scheme and is wholly funded by the Central Government. It was launched in February 2019.

Financial Benefits of the scheme:

The farmers will be entitled to a sum of Rs 6,000 per year distributed in three equal installments provided the Aadhaar seeding to the bank accounts has been done.

It is aimed to supplement the financial needs of the Small and marginal farmers (SMFs). The farmers who own less than 2 hectares of lands are categorised as Small and marginal farmers.

For the ease of the farmers, other tools like Kisan eMitra, a voice-based chatbot and AgriStack has been equipped. A mobile app called the PM-KISAN mobile app was launched on 24th February 2020.

Prime Minister Narendra Modi had released the 19th installment of the scheme from Bhagalpur in Bihar along with several other projects.