Nagaland’s Directorate of Municipal Affairs has directed PMAY-U 2.0 BLC beneficiaries to ensure bank accounts have a transaction limit of at least INR 1 lakh for timely subsidy transfers.
KOHIMA — The Directorate of Municipal Affairs has directed beneficiaries under the Beneficiary Led Construction (BLC) vertical of the PMAY-U 2.0 Mission to ensure that their bank accounts have a transaction limit of at least INR 1 lakh to facilitate the timely transfer of housing subsidies.
In a circular issued on August 21, State Mission Director, PMAY-U Mission and Director of Municipal Affairs, Temjenrenla Kechü informed that the INR 2.5 lakh subsidy under the mission will be released directly to beneficiaries' bank accounts in three instalments through direct benefit transfer (DBT) using Aadhaar-based payment mode.
The subsidy will be released as INR 1 lakh in the first instalment, INR 1 lakh in the second instalment and INR 50,000 in the third instalment.
The department stated that some beneficiaries had submitted bank accounts with transaction limits of less than INR 1 lakh, including tiny accounts, small savings accounts, zero balance savings accounts, jan dhan accounts and post office savings accounts.
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To ensure the smooth and timely payment of subsidy instalments, such beneficiaries have been directed to immediately visit their respective bank branches and get their accounts converted or upgraded to accounts with a transaction limit of at least INR 1 lakh.
The Directorate of Municipal Affairs also requested the concerned bank branches to facilitate and assist PMAY-U 2.0 beneficiaries in converting their accounts to enable further necessary action and ensure the smooth implementation of the mission.