Express News Service
NEW DELHI: Nearly Rs 375 crore is pending for reprocessing due to transactions failures in the government’s flagship scheme — Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN) since its launch in 2019.
Under the scheme, eligible marginal farmers have been electronically given Rs 6,000 annually in three equal instalments.
There were 14.22 lakh transfers pending due to transaction failure during the 2019-20 fiscal.
As per a reply in Parliament by the ministry of agriculture, the number of failed transactions came down to 8.19 lakh in the 2020-21 fiscal. In the ongoing 2021-22 fiscal, failed transactions were 9.11 lakh till November 30.
The amount pending for reprocessing due to failed transactions was Rs 182.78 crore in 2019-20, Rs 163.99 crore in 2020-21, and Rs 28.47 crore in 2021-22.
In a written reply to the Upper House, agriculture minister Narendra Singh Tomar said failed transactions were less than one per cent since the launch of the PM-KISAN scheme.
“Under the PM-KISAN scheme, the total number of transactions is 80,27,44,674, of which the number of failed transactions is less than one per cent,” he said.
Tomar said the cumulative number of failed transactions was 69,02,227 from February 1, 2019, till November 30 of this year. Of these, 32,02,408 were successfully reprocessed.
The minister said transactions failed due to various reasons such as account closed or transferred, invalid IFSC code, account inactive, account dormant, amount exceeding the limit set on account by the bank for credit/debit per transaction and others.
The ministry informed an SoP has been developed to curb transaction failures. Tomar mentioned that his ministry in weekly video meetings takes up the matter with states.
Under the Scheme, more than 11.60 crore farmers have been given financial benefits of approximately Rs 1.60 lakh crore.
