Lakshmir Bhandar updates: KYC compliance mandatory under new guidelines

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Bad news emerges regarding the Lakshmi Bhandar project as the year ends. The Mamata government has announced that an additional 5.7 lakh women will receive the allowance starting this month.

However, reports suggest that while many new beneficiaries have been added, some existing recipients are not receiving their allowances.

The West Bengal government runs several welfare schemes, including old-age pensions, widow pensions, Kanyashree, Yuvashree, and Taruner Swapna. Among these, Lakshmi Bhandar is the most popular.

New rules are being introduced for the Lakshmi Bhandar scheme, which could result in many accounts being dropped. Under these updated regulations, all beneficiary details will be verified through the RBI's National Payments Corporation of India (NPCI).

Applications will now be processed entirely online. Beneficiaries will need to provide their bank account numbers twice—once in masked format for confidentiality and again for verification.

Applicants must also upload proof of their bank account details, including the account number, IFSC code, and branch details.

Additionally, the government will verify specific details before approving allowances, such as:

1. Whether the applicant’s age falls between 25 and 60 years.
2. Whether the applicant is employed or receiving other allowances.
3. Whether the applicant is genuinely financially disadvantaged.
4. Instances of beneficiaries taking money through fake accounts have come to light, prompting stricter measures.

From January, these new rules will be enforced rigorously. Those who fail to comply may face difficulties. If your bank account is not linked with Aadhaar or KYC details are incomplete, your allowance could be stopped.

To avoid disruption, beneficiaries are advised to update and submit all necessary bank account details promptly.

With the crackdown on fake accounts and stricter verification measures, changes to the Lakshmi Bhandar scheme will start in January.