Accounts of the beneficiaries of Indira Gandhi National old Age Pension Scheme (IGNOAPS) – Advisory
NSAP aims at ensuring minimum national standard for social assistance
NSAP at present comprises of Indira Gandhi National Old Age Pension Scheme (IGNOAPS), Indira Gandhi National Widow Pension Scheme (IGNWPS), Indira Gandhi National Disability Pension Scheme (IGNDPS), National Family Benefit Scheme (NFBS) and Annapurna.
Ideally, all disbursements under NSAP should be made through bank/ post office account where feasible.
In this connection, Reserve Bank of India, RPCD, vide Lr. NO. RBI/2010-11/253
RPCD.CO.FID. BC.No. /12.01.012/2010-11 dt.November 1, 2010, has advised Banks to facilitate opening of bank accounts of the beneficiaries of IGNOAPS to enable the Govt. of India to transfer the funds directly in to these accounts.
The complete circular can be accessed @
No-frills Bank accounts are a good option, or otherwise the Business Correspondent Model in another choice.