Banks Now Offering 10,500 BISP Payouts: Check List – October Update

As of the most recent October update, the Benazir Kafalat Payout has been given to eligible people through multiple banks so that all 9.3 Million Beneficiaries can receive their money immediately without being deducted.

Banks Now Offering 10,500 BISP Payouts: Check List - October Update

You must check your account at the 8171 Portal by entering your CNIC Card Number since the BISP has released its October 2024 payment in many districts throughout Pakistan.

BISP October Kafalat Payment Of Rs 10500

As of now, the Benazir Kafalat October Payment remains unchanged, but from 2025 it will become 13500 for the 1 crore beneficiaries registered in the Benazir Kafalat Program. Many families are visiting BISP Campsites to receive their 10500 payment.

Disbursement of payments through a new system

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

بینکوں کو روپے نکالنے کی اجازت دی گئی۔ بے نظیر انکم سپورٹ پروگرام (بی آئی ایس پی) کے ساتھ رجسٹرڈ گھرانوں سے سہ ماہی ادائیگیوں میں دس ہزار پانچ سو۔ چھ اضافی بینکوں کے ساتھ معاہدوں پر دستخط کرنے سے پہلے، بی آئی ایس پی اپنے 9.3 ملین اہل گھرانوں کو ادائیگیاں بھیجنے کے لیے صرف دو بینکوں پر منحصر تھا۔

Before signing agreements with six additional banks, the BISP was only dependent on two banks to send payments to its 9.3 million eligible households.

List Of Banks that offer 10500 payments to beneficiaries

BISP beneficiaries have access to ATMs operated by 15 clusters and six banks. Registered BISP recipients can withdraw Rs. 10,500 every quarter from ATMs operated by:

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

Any ATM operated by an authorized bank in Pakistan can be used to withdraw the quarterly installments.

Complaints Registered Against Stipend Desduction By The Beneficaires 

Almost 93 lakh families are aided by the Benazir Kafalat Program, one of Pakistan’s biggest initiatives. However, there have been numerous problems with pay deductions and corruption as a result. As a result of public concerns about difficulties withdrawing their quarterly installment, the move was taken.

With both short-term and long-term objectives, the Kafaalat initiative, launched in 2008, has grown into Pakistan’s largest cash distribution program.

The 8171 BISP Program: A key support system for eligible families

It is estimated that approximately 9.3 million households are eligible for financial assistance through the Benazir Income Support Program; by the end of the following year, the government plans to increase that number to 10 million.

In addition to supporting deserving people on a long-term and short-term basis, it has supported:

  • Short-term objectives of the initiative include protecting marginalized communities from poor economic growth, rising inflation, and food shortages.
  • In line with the Sustainable Development Goals (SDGs), the program’s long-term objectives are to end severe and chronic poverty and empower women.

In conclusion

According to the October 2024 update for the BISP program, more banks now offer the Rs. 10,500 Kafalat payment, which ensures that 9.3 million beneficiaries receive their payments quicker and more efficiently. As a result of the addition of new banks, families can now access their payments from a wider network of ATMs, addressing past concerns about delays and deductions.

BISP will continue to support vulnerable households as the program grows, with further increases expected in 2025.

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