NEW DELHI: Banks have been directed by the government to reduce failed transactions under the PM-Kisan Samman Nidhi Yojana, after feedback highlighted delays caused by issues such as unmapped Aadhaar numbers, closed accounts and incomplete KYC verification. Officials said state-level initiatives and corrective measures are being rolled out to address these challenges. The government has earmarked Rs 63,500 crore for the scheme in FY26. “After a detailed study it was pointed out that the Aadhaar number not being mapped to the beneficiary’s account was one of the primary reasons for failed transactions,” said an official, quoted by Economic Times, noting that beneficiaries at times also provide invalid details, including account types such as loan or fixed deposit accounts. Banks have been asked to step up communication with farmers. Financial institutions are now tasked with informing beneficiaries about such issues and assisting them in meeting eligibility requirements, including completing KYC and resolving frozen or closed accounts. “We are already helping beneficiaries in getting their details and the correct account type being submitted,” a bank executive said, as quoted by ET, requesting anonymity. “This is being reviewed at regular intervals and corrective measures are being taken.” Launched in 2019, PM-Kisan provides Rs 6,000 annually to farmers in three instalments via direct benefit transfer (DBT) into Aadhaar-linked bank accounts. Since inception, the government has transferred more than ₹3.90 lakh crore across 20 instalments. To ensure benefits reach eligible recipients, the scheme requires land records and Aadhaar to be linked with bank accounts, along with e-KYC verification. Before payments are processed, farmer details are cross-checked using digital public goods including Aadhaar, PFMS and income-tax records. Separately, a three-month financial inclusion drive that began on July 1 is also boosting participation in Jan Dhan Yojana accounts and allied social security schemes. In the first month, 105,000 camps were held across gram panchayats, covering one-third of total GPs nationwide. The campaign led to 600,000 new PMJDY accounts, 700,000 PMJJBY enrolments, 1.2 million PMSBY registrations and 300,000 APY enrolments, alongside Re-KYC updates for more than 1.42 million bank accounts.