Infocomm Infocomm
24th NBFC100 TECH SUMMIT AWARDS 24th NBFC100 TECH SUMMIT AWARDS
BFSI AI SUMMIT BFSI AI SUMMIT
Home Regulators RBI SEBI TechINFRA Security Data Centre Cloud Services Government Reforms DBT Aadhaar GST Payments Payment Gateways ATM Point of Sale Payment Wallets Fintech Apps Banks Public Sector Private Sector Cooperative NBFCs Year Ender Magazine Magazine Subscription Articles Interviews Webinars Webinar Videos Video Series — Innovation Talk Upcoming Initiatives BFSI Events About Us Contact Us

Centre saved Rs 58,000 crore via DBT: Ravi Shankar Prasad

Ravi_Sankar_prasad

Direct Benefit Transfer (DBT) scheme used in various subsidy programmes, has helped the Centre in saving Rs 58,000 crore, according to Union Minister Ravi Shankar Prasad.

The Central Government is making optimum use of digital technology to innovate ways to benefit the poor and underprivileged.

AdvertisementElets BFSI AI Summit & Awards, Mumbai

 “We opened Jan Dhan accounts for poor and underprivileged. We linked that to Aadhaar and mobile phones and we started sending gas subsidy, ration subsidy, kerosene subsidy and food subsidy directly to the bank account. We have saved Rs. 58,000 crore which used to be pocketed by middlemen,” said Prasad.

“This Rs. 58,000 crore money is not private money it is tax payer’s money which required to be saved and digital governance is doing that,” he added.

Explaining the success quotient of DBT initiative, the minister said that government has been able to put a check on three crore fake gas connections and has revoked 2.7 fake ration cards.

AdvertisementInfoComm India 2026

 “The idea we set for ourselves when we went for digital revolution is, that we want to create technology which is inclusive and at the same time affordable and dependable,” he added.

The minister further explained that the linking of various social schemes proved to be advantageous for the underprivileged.

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram.

Our Coverage of News

Aashish Sethi Joins Bajaj General Insurance as Chief Distribution Officer

Aashish Sethi has joined Bajaj General Insurance as Chief Distribution Officer – Bancassurance & Government Business (Institutional), strengthening… Read more →

Razorpay Partners with OpenAI to Help Indian Brands Advertise on ChatGPT

Razorpay has partnered with OpenAI to help Indian brands explore advertising opportunities on ChatGPT, potentially opening a new… Read more →

GreyLabs AI Partners with Federal Bank to Deploy Voice AI Across Customer Interactions

GreyLabs AI has partnered with Federal Bank to bring Voice AI into everyday customer interactions, with applications spanning… Read more →

HDFC Bank Appoints V.N. Srivatsan as Chief Compliance Officer

HDFC Bank has appointed V.N. Srivatsan as its new Chief Compliance Officer (CCO) for a three-year term, effective… Read more →

ICICI Prudential Life Insurance Appoints Sidharatha Mishra as MD & CEO

ICICI Prudential Life Insurance Company Limited has appointed Sidharatha Mishra as Managing Director and Chief Executive Officer, effective… Read more →

NBFCs Account for 47% of New-to-Credit Consumer Originations: FIDC-TransUnion CIBIL Report

Mumbai, October 5, 2026: Non-Banking Financial Companies (NBFCs) have emerged as a major gateway to formal credit in… Read more →

whatsapp--v1