44% of funds transfer failed to reach the beneficiaries under PM Kisan Cash Transfer scheme

• After the PM Kisan cash transfer scheme was launched in February 2019, nearly 44 % of the funds transferred under the scheme during the lockdown, failed to reach the accounts of beneficiaries.
• The information was provided by the agriculture department under the Right to Information (RTI) Act.
• According to the department, between March 23 and July 31, over 1.12 million fund transfer failures were observed across India.
• Letting you know, MP reported 64.55% of the failed transactions (72,90,00) followed by Maharashtra with 85,000 (7.54%), Karnataka over 55,000 failures, Bihar 51,000 and UP 48,000 failures.
• While under the scheme, Rs 6,000 is annually provided to farmers with landholding up to 2 hectares in three equal installments.