Aadhaar Payment Bridge System & Direct Benefit Transfer
Transferring your funds to another JKGB account is simple and easy. Cash withdrawal from own account is possible from any JKGB branch using cheque.
Brief
Aadhaar Payments Bridge System or APBS is a payment gateway platform created by National Payments Corporation of India. It is used for Aadhaar schemes. it was used for the first time on 1 January 2013 when Direct Benefit Transfer was launched by Government of India.
- Direct Benefit Transfer Program aims to transfer subsidies directly to the people through their bank accounts. Benefits from Govt. Departments can received to the accounts of JKGB customers, provided AADHAAR number has been linked to Accounts with our branches. Aadhaar Payments Bridge System (APBS) is used for crediting DBT transactions for Government/ Government agency disbursements.
- DBT aims to transfer subsidies directly to the people through their bank accounts. Crediting of subsidies directly into bank accounts will reduce the leakages and delays in the disbursement of all government transactions
Benefits
- To sub-serve the goal of Government of India (GOI) and Reserve Bank of India (RBI) in furthering Financial Inclusion by way of processing government disbursement using Aadhaar number.
- APBS is safe and secure
- This payment system enables to credit Government disbursements like Subsidies directly to customer accounts.
- Crediting of subsidies directly into bank accounts will reduce the leakages and delays.
- Transparency in the distribution of benefits.
- DBT on LPG ( Pahal) directly credited to customer accounts.
- DBT under MGNREGA ( MGNREGA covered under DBT after launch of PMJDY)