Under PM Kisan Scheme, Why is Money Credited Into Some Farmers’ Accounts Quickly Deducted?

Under PM Kisan Scheme, Why is Money Credited Into Some Farmers' Accounts Quickly Deducted? 1

A proper to records (RTI) question filed via The Wire has revealed that crores of rupees credited into farmers’ money owed underneath the Modi authorities’ ambitious PM Kisan Samman Nidhi (PM-Kisan) scheme were reversed within a few hours. The BJP has been championing the PM-Kisan Yojana as the main accomplishment in its rallies for the continuing Lok Sabha elections. Launched on February 24, PM Modi described the scheme as a great step closer to enhancing the circumstance of farmers.

However, documents accessed using The Wire display that the deposits of Rs 2,000 – given to heaps of farmers in the form of the primary installment – had been reversed within a few hours or some days in some instances. The scheme affords Rs 6,000 yearly, in 3 installments of Rs 2,000, to farmers who very own land totaling two hectares or less. In response to the RTI query, of the nineteen countrywide banks inside the USA, the State Bank of India, Bank of Maharashtra, UCO Bank, Syndicate Bank, and Canara Bank admitted that for some of the beneficiaries, the cash credited within the farmers’ accounts underneath the PM-Kisan Yojana has because been debited.

Banks claim a lack of awareness about the debited price range.

The State Bank of India (SBI), India’s largest bank, said that there had been 27,307 such debts until March eight, 2019, and a complete of Rs five.46 crore were deposited, after which reversed. The SBI also stated that it had credited Rs 854.85 crore in approximately 42,74,000 money owed till March eight, 2019, underneath the PM-Kisan scheme. Similarly, the Bank of Maharashtra confirmed that some of the money deposited within the farmers’ money owed under the scheme had been deducted. The financial institution stated that it had deposited around Rs 37.70 crore in 1,88,000 money owed to date, of which Rs sixty-one .2 lakh has been reversed.


According to this reaction, the money deposited under the PM’s farmer scheme has been debited through the Bank of Maharashtra from almost 3,060 farmers’ bills. Meanwhile, in response to the RTI question, the UCO Bank said that using February 24, Rs 58.38 lakh changed into debited from 2,919 debts. The assistant wellknown supervisor of the financial institution, A.K. Barua, said that the charge turned reversed due to incorrect account numbers of the beneficiaries or different troubles regarding Aadhaar cards.

According to records, the UCO bank had deposited Rs 30.28 crore in 1,51,000 debts under the PM-Kisan scheme till February 24. However, upon similar inquiries through The Wire approximately whether the account variety of the beneficiaries was later corrected and bills processed once more, the bank no longer replied. Another national financial institution, Syndicate Bank, responded to the RTI question by announcing that because it had to gather the statistics from one-of-a-kind branches throughout the united states of America, the facts cannot be given under Section 7 (9).

In reaction to the RTI, Andhra Bank claimed that it had deposited around Rs a hundred and seventy crores in almost 8, fifty-four,000 money owed. Of this, Rs 90,50,02,178 were “withdrawn”. When The Wire sought clarification, the financial institution’s widespread supervisor M. Satyanarayana Reddy claimed that the debited amount – which is greater than Rs ninety crore – had been withdrawn with the aid of farmers. However, he cannot explain how the financial institution determined whether the withdrawal of Rs 2,000 from an account has been crafted from the quantity deposited under the PM-Kisan scheme in place of a normal withdrawal through the account holder from their personal financial savings.

Another nationalized bank, Canara Bank, has stated that several such cases have surfaced in which the cash deposited beneath the PM-Kisan scheme turned into debt. However, the financial institution didn’t offer records approximately the whole range of such instances. While Canara Bank has maintained that the charge becomes reversed because the farmers’ account numbers have been incorrect, numerous cases have come to light where the cash was withdrawn from accounts of eligible beneficiary farmers. But the bank did not explain in this context. The bank claimed that a complete of Rs 1,43, seventy-seven, eighty-four,000 was deposited in around 7,18,892 accounts until March 20 beneath the PM-Kisan scheme.

Funds mysteriously deducted from farmers’ bills.

Despite many withdrawals of funds deposited below the PM-Kisan scheme, the Union agriculture ministry claims not to know it. The Farmers’ Welfare Department of the agriculture ministry stated, in reaction to an RTI query, that the kingdom government is chargeable for reporting such instances and that no such statistics have been received via the department up to now. The ministry said that Rs 60,05,48, fifty-eight,000 had been deposited inside the money owed of almost three,00,27,429 farmers because of the first installment underneath the PM-Kisan scheme in December 2018 and 31 March 31. During February, numerous media reports claimed that farmers had complained about the reality that Rs 2,000 deposited in their money owed turned into reversed inside some hours or days.

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