Delhi Lakshmi Yojana RD maturity: Check lock-in period date, recurring deposit credit amount, eligibility

The Delhi state government has set maturity date for the recurring deposit under the Delhi Lakshmi Yojana and empowered the Council of Ministers to make changes after reviewing the scheme in two years, PTI reported.

Notably, the lock-in period till has been set for 31 July 2029, which is the year when the next Lok Sabha polls are scheduled, it added, citing the scheme document.

“The Council of Ministers will have the power to review and change the maturity period of recurring deposits under the Delhi Lakshmi Yojana after two years of its launch,” it stated.

What is the amount under Delhi Lakshmi Yojana?

Delhi government launched the scheme on 26 August this year, with first monthly disbursements scheduled from 1 September. About 4,000 beneficiaries under the scheme received sanction letters on 26 August.

The Delhi Lakshmi Yojana aims to support up to 17 lakh beneficiaries across the national capital. Under the scheme, eligible women will receive ₹2,500 every month.

• Of this, ₹1,500 will be credited to a recurring deposit account, while ₹1,000 will be transferred through a Central Bank Digital Currency (CBDC) wallet linked to the beneficiary's bank account, it said.
• Or beneficiaries can choose to have the entire ₹2,500 credited every month to a recurring deposit account through the selected banking partner.
• The RD has lock-in period till 31 July 2029 and will earn interest at the prevailing rate, it added.
• The CBDC wallet will have spending restrictions and cannot be used to purchase items on the scheme's negative list.
• Items on the restricted list include alcoholic beverages, tobacco products, narcotic drugs and psychotropic substances, lottery tickets, gambling and betting, it said.

Can beneficiaries apply without Aadhaar?

Applicants without an Aadhaar card can register under the Delhi Lakshmi Yojana by providing an Aadhaar enrolment slip, where available, along with an alternative document such as a PAN card, ration card, voter identity card, passport or driving licence.

The enrollment process is being conducted by the Women and Child Development Department, which will facilitate Aadhaar enrolment for beneficiaries who have not yet obtained the identity number through its district offices.

As per the scheme document:

• Applicants can seek Aadhaar enrolment while completing registration under the Delhi Lakshmi Yojana.
• In cases where Aadhaar authentication fails due to poor biometric quality or other reasons, beneficiaries can use iris or face authentication and Aadhaar-based OTP.
• Where these methods fail, benefits may be provided against a verified physical Aadhaar letter carrying a QR code, it said.

Who is an eligible beneficiary?

• The applicants must be women between 21-60 years of age, who are the eldest female member of her family.
• Only one woman per household can receive the benefit.
• The family's annual income must not exceed ₹2.5 lakh.
• The applicant, her husband or her parents must have resided in Delhi for at least 10 years.
• The applicant must also be a registered voter in Delhi to qualify for the monthly financial assistance under the scheme.
• Income-tax payers, GST filers and government employees are excluded from the scheme.
• Families consuming more than 2,400 units of electricity annually are also excluded from the scheme.
• Families owning a four-wheeler are also not eligible for the benefit, as per the eligibility criteria of scheme.

(With inputs from PTI)