October Update: Full List Of Banks Now Offering 10,500 BISP Payouts

Here is the most latest October update about the BISP Program, in which the Benazir Kafalat Payout has been given to eligible people through multiple banks so that all the 9.3 Million Beneficiares can get their money in immediate conditions without the deduction.

The BISP has released its October 2024 Payment in many districts across Pakistan, therefore you must check your Account at the 8171 Portal through your CNIC Card Number.

BISP October Kafalat Payment Of Rs 10500

Benazir Kafalat October Payment has been released and many families are visiting the BISP Campsites to receive their 10500 payment as for now the Kafalat Payment will remain unchanged but from 2025 it will become 13500 for the 1 crore Beneficiaries registered in Benazir Kafalat Program.

Payment Disbursement Through New System

The Benazir Income Support Programme (BISP) allowed banks to withdraw Rs. 10,500 in quarterly payments from households that were registered with the program.

بینظیر انکم سپورٹ پروگرام نے بینکوں کو پروگرام کے ساتھ رجسٹرڈ گھرانوں سے سہ ماہی ادائیگیوں میں دس ہزار پانچ سو نکالنے کی اجازت دی۔ بی آئی ایس پی نے چھ اضافی بینکوں کے ساتھ انتظامات پر دستخط کیے تاکہ وہ اپنے 9.3 ملین اہل گھرانوں کو ادائیگیاں بھیج سکے، کیونکہ یہ پہلے صرف دو بینکوں کی خدمات پر منحصر تھا۔

The BISP signed arrangements with six additional banks so that it could send payments to its 9.3 million eligible households, as it was previously dependent only on the services of two banks.

List of Banks Offering 10500 Payments To Beneficiares

Fifteen clusters and six banks provide services to BISP beneficiaries. Registered BISP recipients can withdraw the payment of Rs. 10,500 every quarter from ATMs run countrywide by:

Bank Al Falah,
Bank of Punjab,
Mobilink Microfinance,
Telenor Microfinance Bank,
Habib Bank Limited,
and HBL Microfinance nationwide.

The recipients can withdraw their quarterly installment from any ATM operated by one of the authorized banks in Pakistan.

Complaints Registered Against Stipend Desduction By The Beneficaires

One of Pakistan’s biggest initiatives, the Benazir Kafalat Program assists almost 93 lakh families at once; as a result, numerous problems with pay deduction and corruption have emerged. The move was taken in response to several public concerns over the difficulties people had when withdrawing their quarterly installment.

The Kafaalat initiative, which was launched in 2008, has expanded to become the biggest single cash distribution program in Pakistan. It has both short-term and long-term objectives.

8171 BISP Program: Key Supporter For Eligible Families

The Benazir Income Support Program currently provides financial assistance to approximately 9.3 million eligible households nationally; by the end of the following year, the government hopes to increase that number to 10 million.

It has been supporting deserving people on long and short terms which includes:

The initiative’s short-term objective is to protect marginalized communities from the negative effects of poor economic growth, rising inflation, and the food crisis.
The program’s long-term objectives, which align with the Sustainable Development Goals (SDGs), are to end severe and chronic poverty and empower women.

Conclusion

The October 2024 update for the BISP program highlights the expanded list of banks now offering the Rs. 10,500 Kafalat payment, ensuring quicker and more efficient disbursement for 9.3 million beneficiaries. With the addition of new banks, families can access their payments from a wider network of ATMs, addressing past concerns of payment delays and deductions.

As the program continues to grow, BISP remains committed to supporting vulnerable households, with further payment increases expected in 2025.