Odisha launches Subhadra Yojana; first direct transfer scheme using digital rupee

The Subhadra Yojana, a new direct transfer initiative for women in Odisha, has become the first government program to allow beneficiaries to receive an annual payout of Rs 10,000 in Central Bank Digital Currency (CBDC), commonly referred to as the 'digital rupee, reported TOI.

Approximately 12,000 beneficiaries received the first instalment and were notified of the deposit via text messages in both Odiya and English.

"The money will go directly into your bank accounts, there are no middlemen. It is linked to RBI's digital currency pilot. This digital currency can be spent whenever you want,” PM Narendra Modi said on Tuesday during the scheme’s launch.


The Reserve Bank of India (RBI) is currently conducting pilots for its digital rupee, with around six million users, including over five million retail users.

While banks have been utilising digital currency for transactions related to government securities and carbon credits, the introduction of Subhadra Yojana may lead to the addition of more government schemes.

Odisha was among the states where the CBDC pilot began in late 2022, according to officials.

RBI has indicated that the CBDC can enhance the delivery of targeted subsidies, according to the TOI report.

Implementing the scheme has involved collaboration between RBI officials in Mumbai and Bhubaneswar and state government representatives, with local bank branches assisting in opening digital rupee wallets and explaining their usage.

Beneficiaries can spend their digital rupee via UPI QR codes, transfer it to their bank accounts, or withdraw cash as needed.

Subhadra Yojana: Eligibility, benefits

According to the guidelines of the scheme, each eligible beneficiary will receive Rs 10,000 per year in two equal instalments. Over five years, each eligible woman will receive a total of Rs 50,000.

All eligible women of 21-60 age group will get the benefit of the Subhadra Yojana. If there are two or three eligible women in one family, all will get the benefit. All eligible women including those who are getting widow pension and scholarship from the government will get the assistance," the deputy chief minister said.

The applicant must be an Odisha native, 21 years old or older, and under the age of 60 on the deadline.For the fiscal year 2024-25, the deadline is July 1, 2024. The date will be determined subsequently by the administration during the next four years.