The proposed payments bank of Department of Posts is likely to provide DBT facility of various ministries, Parliament was informed today.

“The India Post Payments Bank (IPPB) is likely to provide “Direct Benefit Transfer (DBT) of social security payments of various ministries,” Telecom Minister Ravi Shankar Prasad informed informed Lok Sabha in a written reply. The DBT schemes are presently handled through banks. The postal department has been managing distribution of wages under MGNREGA scheme. Under the DBT scheme, the government directly transfers subsidies into the bank accounts of the people eligible for benefit. Subsidies, including LPG, of around 35-40 government schemes are covered under it. As per official data, till December 27 around Rs 40,000 crore was directly reaching the beneficiaries through various schemes.

http://economictimes.indiatimes.com/industry/banking/finance/banking/india-post-payments-banks-may-offer-dbt-of-various-ministries/articleshow/51426804.cms

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