Prime Minister Narendra Modi on Friday released the 24th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), transferring more than Rs 18,690 crore directly into the bank accounts of over 9.34 crore farmers across the country. The instalment was released at Banaskantha in Gujarat through the Direct Benefit Transfer (DBT) mechanism.
With this release, cumulative financial assistance disbursed under the scheme has crossed Rs 4.64 lakh crore through 24 instalments, making PM-KISAN one of the world's largest direct income support programmes for farmers.
Under the scheme, eligible landholding farmer families receive financial assistance of Rs 6,000 annually in three equal instalments of Rs 2,000 each. The amount is transferred directly into their Aadhaar-linked bank accounts to support agricultural investments and household expenses.
The scheme, launched on February 24, 2019, aims to provide assured income support to farmer families with cultivable land. The financial assistance helps farmers meet expenses on seeds, fertilisers, irrigation, agricultural machinery and other farm inputs. It also seeks to reduce their dependence on informal sources of credit and strengthen the financial stability of rural households.
The Union Cabinet approved the continuation of PM-KISAN from 2026-27 to 2030-31 in July 2026, with a total financial outlay of Rs 3.15 lakh crore. The Union Budget 2026-27 has allocated Rs 60,000 crore for the scheme.
To ensure transparency and prevent payments to ineligible beneficiaries, the government has made Aadhaar-linked bank accounts, land record verification and electronic Know Your Customer (e-KYC) mandatory for beneficiaries. The digital verification system is intended to minimise intermediaries and ensure that financial assistance reaches eligible farmers directly.
The fund transfer process involves registration through the PM-KISAN portal, mobile application or Common Service Centres. State governments verify beneficiary details and land records before the information undergoes Aadhaar and bank account validation. The Public Financial Management System subsequently verifies payment details, after which funds are transferred through banks and the National Payments Corporation of India.