A DBT transaction refers to the process involved in Direct Benefit Transfer (DBT), a welfare scheme by the Indian government that aims to streamline the distribution of subsidies and benefits to eligible individuals. Instead of routing funds through intermediaries, DBT directly transfers funds into the beneficiaries' bank accounts.
In essence, a DBT transaction involves:
- Identification of Eligible Beneficiaries: Determining individuals who qualify for a particular subsidy or benefit program.
- Bank Account Seeding: Linking the beneficiary's bank account to the DBT scheme.
- Direct Fund Transfer: The government directly credits the subsidy or benefit amount into the beneficiary's bank account.
Direct Benefit Transfer (DBT) is a significant initiative aimed at improving efficiency, transparency, and accountability in the delivery of welfare services.
