On 18th February 2024, the Benazir Income Support Program (BISP) released the much-awaited installment under the Benazir Program 10500. This release marks a significant milestone in the ongoing support provided to eligible beneficiaries. In this article, we’ll delve into the details of how this installment has been credited, the eligibility criteria, and the reasons behind any delays in its release.
Benazir Program 10500 Released On 18 February
The Benazir Program 10500 installment has been credited to the accounts of all individuals who were already receiving benefits under the program. Additionally, those who have become newly eligible have also received their installment. However, it’s important to note that the transfer to newly eligible individuals may take around a week or two to reflect in their accounts.
Agents associated with the Benazir Income Support Program received notifications regarding the installment release. These notifications outline the payment schedules and security deposit requirements for agents utilizing the payment device. The program has categorized agents based on the security deposit amount, ranging from 50 thousand to three lakhs.
Categories for Agents
Previously, agents were categorized based on varying security deposit amounts. However, the program has now streamlined the process to only three categories. Agents falling within these categories are authorized to issue payments under the Benazir Kafalat program. The issuance of payments is limited to agents who have deposited a security amount of three lakhs or those who will be verified and granted formal rights to issue payments to more than 800 beneficiaries.
Reasons for Delay
Despite the scheduled release date of 18th February 2024, some beneficiaries may experience delays in receiving their installment. These delays could be attributed to various factors such as verification processes, technical issues, or procedural requirements. Beneficiaries need to remain patient as the program strives to ensure timely disbursement of funds.
Conclusion
The release of the Benazir Program 10500 installment on 18th February 2024 underscores the commitment of the Benazir Income Support Program to provide financial assistance to eligible individuals. By streamlining payment processes and categorizing agents, the program aims to enhance efficiency and transparency in fund disbursement. Despite any delays, beneficiaries can rest assured that efforts are underway to expedite the release of their installments.