The Government has disbursed PM Kisan 11th Installment, directly to the farmers’ bank accounts benefiting over 10 crore farmers who have received a grant of Rs 2,000 each. Spice Money, India’s leading rural fintech with one million strong Adhikari network covering 18,500 plus pin codes, is assisting the farmers and farmer families residing in the heartlands of the country, to withdraw this subsidy through AePS at their doorstep Adhikari outlet.
PM Kisan Scheme, a central sector scheme with 100% funding from the Central Government, became operational on December 1, 2018. Under this scheme, income support of Rs. 6000 / year, divided into three installments, is directly transferred to the bank accounts of landholding farmer families, consisting of the husband, wife, and minor children.
Speaking on this, Sanjeev Kumar, Co-Founder & CEO, Spice Money, said, “At Spice Money, we have been striving to solve the problem of access to banking & financial services in rural India. As the 11th installment of the Pradhan Mantri Kisan Samman Nidhi is rolled out, our 1 million Adhikaris operating across 18,500 pin codes, will be an enabler in ensuring easy access and withdrawal of this subsidy to the rightful 10 crore beneficiaries of this scheme".
He further said that "farmers and farmer families will no longer have to travel large distances to bank branches or just let the money lie idle in their accounts in times of need. Our Adhikaris, trusted banking partners in their communities, will be there at the villages to help farmers withdraw their money, with the help of AePS, thereby providing much-needed safe and secure access to the subsidy amount.”
Spice Money has been spearheading the efforts towards bridging the financial services gap in rural India by providing banking and financial services to the remotest corners of the country, across 700 districts and 5,000 blocks, thereby revolutionising the way Bharat banks.
About Spice Money
Spice Money, a subsidiary of DiGiSPICE Technologies, is India’s leading rural fintech revolutionising the way Bharat Banks, with over 1 million Adhikaris (nanopreneurs) offering Aadhar-enabled payment system for cash withdrawal, mini ATM, loans, bill payments, cash collection centers for customer/ agents/ representatives of NBFC/Banks, airtime recharge, tours & travel, online shopping, Pan Card and mPoS services.
