Scholorship / Subsidy / Pension

The Bank is registered under the PFMS portal (Public Financial Management System) controlled by Govt. of India. It serves as a central system for financial management, including direct benefit transfers to beneficiaries.

The bank facilitates Aadhaar Seeding (Linking) for the purpose of Direct Benefit Transfer (DBT) in all savings bank accounts.

The bank serves accounts for scholarships, subsidies, and pensions in India, you need an Aadhaar-linked, active bank account, where the Aadhaar number acts as the key for Direct Benefit Transfer (DBT) from government schemes, ensuring funds go directly to you without intermediaries, requiring KYC and correct bank details. For students, the account must often be in their own name, especially for higher classes.

Key Requirements of this account.

• Aadhaar Seeding: Your bank account must be linked (seeded) with your Aadhaar number for DBT.
• KYC Compliance: Ensure your Know Your Customer (KYC) status is updated at the bank for smooth transactions.
• Active Status: The account should be operational until funds are disbursed.
• Correct Details: Double-check your account number and IFSC code for accuracy.
• Student Accounts: For post-matric/higher education scholarships, the account should be in the student's name.