UMANG Card:

The ICICI Bank’s Direct benefit Transfer program provides the most favored option for transferring your fund via NACH/NEFT and validate the account of beneficiary through PFMS. This program allows you to effectively handle your funds, authenticate the final beneficiary, and conveniently reconcile any unforeseen circumstances with round-the-clock customer service. It aims to enhance performance and productivity through the direct benefit transfer on the Umang card to all the eligible persons.

Umang Card is a reloadable prepaid card equipped with an EMV chip, allowing for secure transactions. It comes with annual spending limit of Rs 10 lakh. This card is specifically designed for eligible individual to receive government subsidies and benefits directly. Various schemes provide by both central and state government like PMAY, PMGAY, old age pension, agriculture subsidy, MNREGA, central housing fund, student scholarship, and LPG subsidy are accessible through NACH/NEFT functionality and account validation checks through PFMS.

It offers an easy one-stop solution with higher accountability and visibility at every step of fund movement.

Overall, the Umang card has been a successful initiative in improving the delivery of government subsidies and benefits to the intended beneficiaries, promoting financial inclusion and reducing leakage. It curtails any third party involvement and keeps the process simple.