What is the Full Form of DBT Payment?
By BYJU'S Exam Prep
Updated on: November 9th, 2023
The Full Form of DBT Payment is a Direct Benefit Transfer Payment. DBT Payment is a government initiative that went into effect on January 1, 2013. It was introduced in order to alter the mechanism for transferring benefits and subsidies. The program’s goal was to make it easier to transfer cast benefits directly into the bank accounts of the intended beneficiaries of government schemes.
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DBT Full Form
DBT Payment reduces corruption and increases the efficiency of government payments. The Planning Commission established the DBT Mission to serve as the focal point for carrying out the DBT programs.
- In July 2013, the Mission was moved to the Department of Expenditure.
- DBT’s first phase was launched in 43 districts, and 78 more districts were later included in 27 schemes for the welfare of women, children, and the working class.
- DBT was made available to more people nationwide. In 300 designated districts with higher Aadhaar enrolment, 7 new scholarship programs and the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was brought under DBT.
DBT Government Payment
The government has been using DBT Payments since 2013. The benefits of using DBT Payment are as follows:
- DBT Payment makes the money transfer quick and easy. There is no need for the beneficiaries to wait in long queues at the bank.
- The DBT Payments are reliable and secure, and money reaches the bank account on time and safely.
- DBT Payments are way cheaper than other methods of payment.
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