KOCHI (Commodity Online): India Rubber Board has decided to introduce the system of paying subsidy to growers through bank accounts through National Electronic Fund Transfer (NEFT).
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, according to a press release.
At present 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 may intimate their bank account details, as and when demanded from the regional offices concerned. The field level officers will 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.
(Source: http://www.commodityonline.com/news/India-rubber-growers-to-get-subsidy-through-NEFT-37915-3-1.html)
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