New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Thursday said as many as 11.8 crore farmers were provided financial assistance under the PM KISAN Yojana.

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is one of the world's largest Direct Benefit Transfer (DBT) schemes.

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Under the PM-KISAN scheme, the government provides a financial benefit of Rs 6,000 per year in three equal four-monthly instalments. The money is transferred into the bank accounts of farmers' families across the country through DBT mode.

Announced in February 2019 in the interim budget, the scheme was effective from December 2018.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)