New Delhi, March 1: Out of the 1,200 central and state government schemes, 1,100 are now under the ambit of the Direct Benefit Transfer (DBT) system, said Union Finance Minister Nirmala Sitharaman on Saturday.

FM Sitharaman said that this ensures that funds are directly transferred to the beneficiaries’ bank accounts, eliminating middlemen and reducing delays.

“Everything is going via direct payment, so there are no middlemen, no unborn children getting allowances,” the minister said, while speaking at the 49th Civil Accounts Day celebrations in the national capital.

The Finance Minister added that everybody who receives the fund has a biometric-verified account into which the money goes.

“The Public Financial Management System (PFMS) has played a crucial role in streamlining DBT,” she stated, noting that the system enables the government to ensure that the funds reach the intended beneficiaries without any irregularities.

FM Sitharaman further stated that PFMS currently serves around 60 crore beneficiaries, making it the largest financial management system of its kind in the world. Its end-to-end digitalisation feature has strengthened financial governance and enhanced accountability in fund distribution.

The PFMS interacts with over 250 external systems, including the Government e-Marketplace (GeM), the Goods and Services Tax Network (GSTN), PM Kisan, and the Tax Information Network (TIN 2.0). This integration allows smooth financial transactions and supports the government’s vision of cooperative federalism, the Finance Minister said.

In addition, PFMS has connected financial systems across states, working with 31 state treasuries and over 40 lakh programme implementing agencies.

“With its extensive network, the system plays a key role in ensuring that government funds are utilised effectively and reach those who need them the most,” Sitharaman said.

“When we talk about PFMS integrating systems. What better example can there be of cooperative federalism if only we recognise, all 31 state treasuries and over 40 lakh programme implementing agencies enabling unified financial management across states,” she said.

Mumbai: The Bombay High Court on Friday raised concerns over the “cut, copy, paste manner” in which banks pass orders declaring accounts as `defaulter’ or `fraud’, and asked industrialist Anil Ambani to approach the RBI against an order of the Union Bank of India declaring his loan account as `fraud’.

A division bench of Justices Revati Mohite Dere and Neela Gokhale was hearing a petition filed by Anil Ambani challenging the October 10, 2024 order passed by the Union Bank of India.

He was not granted any hearing before the order was passed, he claimed, challenging two show-cause notices issued by the bank. He had also asked for copies of the documents on which the bank had relied before passing the order, but no documents were furnished, the petition claimed.

During Friday’s hearing, the court said it was repeatedly coming across cases where banks declare accounts as `fraud’ or `willful defaulter’ without following the guidelines laid down by the Reserve Bank of India.

“There cannot be such cut, copy and paste orders. There has to be some application of mind. Ultimately this is public money. We cannot have such orders passed in such a casual manner. There has to be some mechanism put in place,” the bench said.

Banks have to be mindful of the fact that guidelines, published in the RBI’s `master circulars’, are in place, the HC said.

Such orders will continue to be passed unless the RBI takes action against bank officials, and it was advisable that the RBI put in place some mechanism, the court said.

“We feel this is being done deliberately. There has to be some checks and balances, otherwise this will go on,” it said.

Senior counsel Venkatesh Dhond, appearing for the RBI, said any aggrieved person can lodge an online complaint with the RBI if they feel that a bank order violated the principles of natural justice.

Advocate Dhond, however, clarified that the RBI will not go into the merits of the case after a complaint is filed, but only see if mandatory procedures were followed before passing the order.

The court accepted his statement, and asked Anil Ambani to lodge a complaint with the RBI.

“Let the petitioner upload his complaint. Let us start with that,” the HC said.

The court also directed the Union Bank of India to file its affidavit in response to Ambani’s petition, and posted the matter for further hearing on March 13.

BMW has launched the new 3 Series Long Wheelbase in India, with local production taking place at the BMW Group Plant in Chennai. The luxury sedan is currently available in a petrol variant, while the diesel version is set to arrive at a later date. Priced at Rs 62.60 lakh (ex-showroom), the new BMW 330Li M Sport is now available at all BMW dealerships across the country.

The new BMW 3 Series Long Wheelbase comes in a range of striking metallic colors, including Mineral White, Skyscraper Grey, M Carbon Black, and Arctic Race Blue. Inside, the luxury sedan features premium Leather Vernasca Cognac upholstery, enhancing the cabin’s elegance and comfort.

Powering the new BMW 330Li is a 2.0-litre four-cylinder petrol engine with BMW TwinPower Turbo technology, delivering 258hp and 400Nm of peak torque between 1,550 and 4,400rpm. Paired with an eight-speed Steptronic Sport automatic transmission, the sedan ensures smooth power delivery and quick acceleration. It sprints from 0 to 100 km/h in just 6.2 seconds, offering a blend of performance and efficiency ideal for both city and highway driving.

The new BMW 330Li is designed for an engaging driving experience, featuring steering-mounted paddle shifters and cruise control with a braking function. For those seeking dynamic performance, the Launch Control function enables rapid acceleration with enhanced traction from a standstill. Drivers can also tailor their experience using the Driving Experience Control switch, which offers multiple modes—ECO PRO for efficiency, Comfort for a balanced ride, and Sport for spirited driving. Measuring 4,819mm in length with a wheelbase of 2,961mm, the sedan provides a spacious and premium cabin experience.

The new BMW 330Li prioritizes safety with a comprehensive suite of advanced features. It comes equipped with six airbags, Attentiveness Assistance, and Dynamic Stability Control (DSC) with Cornering Brake Control (CBC) for enhanced stability. Additional safety measures include an electric parking brake with an auto-hold function, side-impact protection, and an electronic vehicle immobilizer with a crash sensor. For child safety, the sedan offers ISOFIX seat mounting, while an integrated emergency spare wheel is neatly placed under the load floor for added convenience.

Mr. Vikram Pawah, President, BMW Group India, said, “The new BMW 3 Series Long Wheelbase has set new standards in its segment with an elongated design, enhanced space, luxurious comfort, and dynamic performance. Impressive in every way, it also possesses the most powerful engine in its class. With the new update, the 3 LWB has increased its appeal even further by adding new striking design elements and driver assistance features. As always, it continues to deliver sheer driving pleasure with superlative luxury, making it a perfect choice for individuals as well as their families.”