Role of Direct Benefit Transfer (DBT) in India’s Financial System

Abstract

DBT has been created to remove middlemen from facilities like subsidies given to citizens by the government. Reforms like Direct Benefit Transfer in the financial system of the country are being promoted all over the world.Funds are directly transferred by the banks to the bank accounts of the beneficiaries through the DBT system.Through this, beneficiaries can link their existing bank accounts and open new accountsDirect Benefit Transfer (DBT) is a social security scheme aimed at giving direct cash subsidies to people living below the poverty line. People living below the poverty line are not getting the benefit of schemes run by the government. Even today these people are struggling for their daily needs. But the main reason for this is a lack of awareness among the people. This paper examines the effects of DBT on the Indian economy and its awareness among people. Secondary sources such as Books, journals, Articles, Newspapers, Research papers, etc. have been used to obtain information.