In a significant development, Prime Minister Narendra Modi is set to release the 16th installment of the PM Kisan Samman Nidhi Yojana on February 28, 2024. This government initiative, under the leadership of Prime Minister Modi, strives to offer a stable source of income and financial security for vulnerable farmers across the country.
The PM Kisan Samman Nidhi Yojana operates by providing an annual assistance of Rs. 6000 to eligible farmers. This financial aid is distributed in three installments of Rs. 2000 each throughout the year, with the allocated funds directly credited to the farmers’ bank accounts.
To ensure the program reaches those who genuinely need it, only farmers with ownership of cultivable land are eligible, with taxpayers excluded from the scheme. The application process involves a crucial step known as eKYC (electronic Know Your Customer), which requires registered farmers to undergo verification using OTP (One-Time Password). This service is available on the PM Kisan Portal or at nearby Common Service Centres (CSC).
The implementation of eKYC serves the purpose of direct credit to the Aadhaar-seeded bank accounts of beneficiaries, eliminating intermediaries and middlemen. This not only enhances transparency but also safeguards against potential misuse of the scheme, guaranteeing that the financial assistance reaches the authentic farmers for whom it is designed.
The PM Kisan Samman Nidhi Yojana continues to be a cornerstone in the government’s efforts to uplift the agricultural community, providing them with a crucial lifeline in the form of financial support.
