Kerala's Onam Gift: Bi-Monthly Pension Instalments for Beneficiaries
Kerala's Finance Minister K N Balagopal announced the distribution of two pension instalments in August as a gift for Onam. With Rs 1,679 crore allocated, 62 lakh beneficiaries will receive Rs 3,200 each, covering arrears. Funds will be credited directly or delivered via cooperative banks and PFMS system.
- Country:
- India
In a recent announcement, Kerala's Finance Minister K N Balagopal revealed that Social Security and Welfare Fund beneficiaries are to receive an 'Onam gift' in the form of two pension instalments in August. This initiative sees a total allocation of Rs 1,679 crore.
The scheme will benefit approximately 62 lakh people, each receiving Rs 3,200, including an instalment of arrears. Commencing on August 23, pension amounts will be directly deposited into the bank accounts of 26.62 lakh beneficiaries, while others will receive payments at their homes through cooperative banks.
Furthermore, the central government will provide the central share for 8.46 lakh beneficiaries under the National Pension Scheme. To expedite the process, the state has disbursed Rs 48.42 crore in advance, ensuring funds reach beneficiaries via the central government's Public Financial Management System (PFMS).
(With inputs from agencies.)
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