Beneficiaries may be allowed to withdraw only Rs.1k
New Delhi, July 20 -- Under the Delhi goverment's proposed Delhi Lakshmi Yojana, women beneficiaries may be allowed to withdraw only Rs.1,000 of the promised Rs.2,500 monthly financial assistance immediately, while the remaining Rs.1,500 could be deposited in a recurring deposit (RD) account for three years, officials familiar with the proposal said on Sunday. The proposal, yet to receive Cabinet approval, aims to encourage long-term savings while continuing to provide monthly financial support, officials said.
"The government will deposit the full Rs.2,500 into the beneficiary's bank account every month. However, only Rs.1,000 can be withdrawn immediately, while the remaining Rs.1,500 will automatically be transferred to an RD account linked to the beneficiary," a senior government official aware of the development added.
The amount accumulated in the RD account, along with the interest, will be available after the completion of the three-year lock-in period, the official added.
The Delhi government last week finalised the eligibility criteria for the scheme and renamed the Mahia Samriddhi Yojana to the Delhi Lakshmi Yojana. "The eligibility criteria will first be placed before the Cabinet for approval. Once cleared, the proposal will be sent to the Lieutenant Governor for approval, after which the scheme will be notified," the official said. The government has also prepared the online portal and plans to test it after the scheme is notified....
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