SUBHADRA Scheme

About SUBHADRA Scheme: 

• It is named after Goddess Subhadra, the younger sibling of Lord Jagannath, the presiding deity of Odisha.
• All eligible women beneficiaries between the age of 21-60 years would receive Rs. 50,000/- over a period of 5 years between 2024-25 to 2028-29.
• An amount of Rs 10,000/- per annum in two equal installments will be credited directly to the beneficiary’s Aadhaar-enabled and DBT-enabled bank account.
• How will it work?
  • The money will be deposited directly into the beneficiary’s Aadhaar-enabled single-holder bank account.
  • The government has made e-KYC mandatory for the scheme. A Subhadra Debit Card will be issued to the beneficiaries.
  • A total 100 beneficiaries with the highest number of digital transactions in each gram panchayat and urban local body area will receive an additional incentive of Rs 500.
  • Women from economically well-off families, government employees, and income-tax payees will not be eligible for the scheme.
  • Women who receive assistance of Rs 1,500 or more per month (or Rs 18,000 or more per year) under any other government scheme will also be excluded.
  • There is no last date to register; the process will continue until all eligible beneficiaries have been registered.

Q1: What is e-KYC?

The e-KYC (Know Your Customer) is a comprehensive process that financial and non-financial institutions follow to verify the authenticity and identity of their customers. The KYC process is mandatory for every customer before investing in any instruments or starting a bank account.

Source: Prime Minister Shri Narendra Modi launches ‘SUBHADRA’ – the largest women-centric scheme in Bhubaneswar, Odisha

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