Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY)

A pension programme called Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) was introduced by the Indian government. For all Small and Marginal Farmers (SMFs) with landholdings in the area, it is an old-age pension programme. Common names for the programme include PM Kisan Pension Yojana. It was created as a voluntary and contributing pension plan for those who entered the programme between the ages of 18 and 40. On August 9, 2019, the launch occurred.

What is Kisan Maan-Dhan Yojana?

After 60 years of age, farmers participating in this programme will get a set, guaranteed monthly income of Rs. 3000. In the event of the farmer's passing, the farmer's spouse will be entitled to receive 50% of the income as a family member. Only spouses are eligible for the family pension.

An individual will be qualified to receive a monthly pension of Rs. 3000 when the scheme reaches maturity. The applicants can better manage their financial needs thanks to the pension payout.

Before they turn 60, individuals in the 18 to 40 age range would have to contribute financially to this programme in amounts ranging from Rs. 55 to Rs. 200 per month. The beneficiary is eligible to receive the pension amount after they turn 60 years old. A predetermined amount of pension is deposited into the appropriate person's pension account each month.

Key Characteristics of the Pradhan Mantri Kisan Maan-Dhan Yojana

Beneficiaries receive a guaranteed monthly pension of Rs. 2000.
The programme is voluntary and contributory, and the beneficiary additionally makes contributions to his retirement account.
To equal the recipients' contribution, the government must do so.
Provides Social Security and Old Age Protection for Small and Marginal Farmers (SMF)
If the beneficiary passes away, the spouse is entitled to receive 50% of the pension sum until their death.
Beneficiaries of the program might be as young as 18 years old.

Pradhan Mantri Kisan Maan-Dhan Yojana Eligibility Criteria

The following people are eligible for this programme:

For Small and Marginal Farmers who are between the ages of 18 and 40 and have up to 2 hectares of cultivable land according to the relevant State's or UT's land records.
They must have a valid Aadhaar card.
They ought to have a PM-KISAN account or a savings account.

What is the Pradhan Mantri Kisan Maan-Dhan Yojana application process?

Following are detailed instructions on how to apply for the programme:

Step 1: SMFs who are interested in participating in the programme are urged to go to their local Common Service Center (CSC).

Step 2: They must submit the following documents to begin the enrollment process:

(Bank Passbook, Cheque Leaf, Passbook, or copy of bank statement as proof of bank account) Savings Bank Account Number and IFSC Code.
Aadhaar Card.

Step 3: Pay the Village Level Entrepreneur the initial contribution amount in cash (VLE).

Step 4: To authenticate the user, the VLE will enter their Aadhaar number, name, and birthdate as they appear on their Aadhaar card.

Step 5: To finish the online registration by filling out the form, the VLE will need information such as bank account information, a mobile number, and email address, a spouse's information (if applicable), and nominee information.

Step 6: The system will automatically determine the monthly payment due based on the applicant's age.

Step 7: The subscriber must give the VLE cash for the first subscription payment.

Step 8: The subscriber must sign the Enrolment cum Auto Debit mandate form that the system generates. The same will be scanned and uploaded into the system by VLE.

Step 9: A Kisan Card will be printed with all the information and the subscriber will be granted a special Kisan Pension Account Number (KPAN).

For more information read regarding Kisan Yojana and schemes visit Tractor News.