MSDE introduces the DBT initiative to distribute stipend directly to over 12 lakh apprentices

The National Apprenticeship Promotion Scheme (NAPS), which provides all apprentices with direct government benefits, will be a component of the Direct Beneficiary Transfer (DBT) Scheme, according to an announcement made on Saturday by the Ministry of Skill Development and Entrepreneurship (MSDE). In the past, businesses would pay apprentices the full amount and request repayment from the government. With the introduction of the DBT Scheme, the government promised to directly deposit its contribution—25% of the stipend, up to Rs 1500 per month—to apprentices’ bank accounts through the National Skill Development Corporation.

1513790645 -
Apprenticeship is receiving a significant boost under Skill India, according to Union Minister of Skill Development and Entrepreneurship and Education Dharmendra Pradhan, who applauded the idea. According to him, the National Apprenticeship Promotion Scheme has deposited stipend subsidies into the accounts of the first group of apprentices using DBT. This not only strengthens apprenticeship but also moves us a step closer to achieving Skill India’s full potential.
By increasing youth employability through such a sustainable form of skill development, MSDE hopes to contribute to the realisation of Prime Minister Narendra Modi’s vision of Aatmanirbhar Bharat.

Latest news

HSBC Taiwan Appoints Soon Yap as Chief Information Security Officer

HSBC Taiwan has appointed Soon Yap as its Chief Information Security Officer (CISO). In this role, he will lead...

FIA Global Appoints Manas Gupta as Chief Financial Officer

FIA Global has appointed Manas Gupta as its Chief Financial Officer (CFO), strengthening its financial leadership as the company...

Lenovo Appoints Shilpa Marodia as Marketing Director for India and South Asia

Lenovo has appointed Shilpa Marodia as Marketing Director for India and South Asia. Based in Bengaluru, she will lead...

Latha Nathan Joins Fulcrum Digital as Senior Vice President – India Delivery Operations

Fulcrum Digital has appointed Latha Nathan as Senior Vice President – India Delivery Operations. In her new role, she...
spot_img

You might also likeRELATED
Recommended to you

spot_img