Rubber Board implements Electronic Transfer for subsidy payments

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Kottayam: In a move that will benefit thousands of rubber planters in Kerala, the Rubber Board has decided to introduce the system of paying subsidy to growers through National Electronic Fund Transfer (NEFT). This will ensure that the beneficiaries will have the subsidy credited directly to their bank accounts instantly thereby avoiding delays.

NEFT is an online system for transferring funds of within Core Banking enabled banks and branches. In this new system of payment, the beneficiaries should give details of their bank account number and IFSC code in the application for rubber planting subsidy.

At present, the payment of subsidy to the beneficiaries are made by the Regional Offices by cheques sent by post which sometimes result in loss in transit, return due to incorrect address, etc. The growers who are already receiving subsidy should intimate their bank account details, as and when demanded from the Regional Offices concerned. The field level officers will have to ensure the correctness of the bank accounts either by getting a certificate from the Manager of the Bank or by getting a cancelled bank cheque from the beneficiary containing account number and IFSC code.

The Rubber Board offers assistance to rubber growers for replanting and new planting under the Rubber Plantation Development Scheme. Planting subsidy, cost of polybag plants and transportation subsidy are some of the other schemes of assistance to the planters.

Anil Philip
Kerala IT News

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