Banks will follow a phased approach to Garib Kalyan's withdrawals

NEW DELHI: Banks have taken steps to ensure an orderly distribution of Rs 500 per woman who has basic bank accounts under Prime Minister's Yojana accounts. To ensure there is no overcrowding, withdrawal will be allowed for five business days sequentially based on the last digit of the account number.

According to the Pradhan Mantri Garib Kalyan package, all banks deposit a sum of Rs 500 per month in the accounts of Jan Dhan Yojana women. This is the first of the 3 monthly installments. Previously, bankers had said they would take the help of business correspondents or bank mitres to help disburse the benefits. The banks had also requested additional cash for rural branches and ATMs to facilitate disbursement.

In a statement issued here, the (IBA) said that remittances were made in stages to avoid social distancing. Remittances are part of the relief measures announced under Prime Minister Gareeb announced by the center following the Covid-19 blockade.

Women PMJDY account holders who have an account number with the last digit 0 or 1 may withdraw on April 3, 2 or 3 on April 4 and 4, or on April 5, 7, 6 or 7 on April 8, 8 or 9, April 9. April 9, all recipients can withdraw any day at their convenience.

“Ask all beneficiaries to cooperate kindly and ensure everyone's safety and comfort. Since this money is deposited in Bank accounts, beneficiaries do not need to rush to withdraw money, the money can be withdrawn at their convenience, said the IBA.