DIRECT BENEFIT TRANSFERS: A REVOLUTIONARY MECHANISM FOR FINANCIAL INCLUSION

Direct Benefits Transfer is a system for controlling and aggregating data on direct benefit transfers from various sources; it is not a socioeconomic assistance program. Experts from a variety of fields have acknowledged that DBT has brought about overall inclusivity and efficiency in India over time. It was initially intended to be a program in which the government's welfare benefits are credited directly to the beneficiary's bank or postal account upon accurate identification. It became popular in 43 districts across 24 Central Schemes approximately ten years ago.The DBT in India has covered over 300 Central and over 200 State schemes, providing eligible beneficiaries with both in-kind and monetary support. The major social security programs in India, such as Pratyaksha Hastaantarit Laabh (PAHAL), Direct Benefit Transfer for LPG, the Mahatma Gandhi National Rural Employment Guarantee Act, the National Social Assistant Program, the Scholarship Program, the Public Distribution System, and others, are examined in this paper in relation to financial inclusion through DBT.Keywords: DBT, Financial Inclusion, Social Assistance Programme, Beneficiary, Cash and Kind Transfers