Banks to start transfer of Rs 500 to Women PMJD account holders from Fri: IBA

NEW DELHI: Women bank account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) will start getting a sum of Rs 500 per month from Friday in line with the announcement made by Finance Minister Nirmala Sitharaman last week, IBA said.

This is the first of the 3 monthly instalments under the Pradhan Mantri Garib Kalyan Yojana announced last week, the Indian Banks’ Association (IBA) said in a statement.

In order to maintain social distancing and to ensure orderly withdrawal of money by the beneficiaries, IBA has designed a schedule to be followed by all banks for the month of April. The transfer has been staggered over 5 days to avoid rush at the bank branches. (AGENCIES)