Total enrollment under the Atal Pension Yojana Program has exceeded 4.01 crore since March 2022 when more than 99 lakh APY accounts were opened during FY 2021-2022. The program has seen great success due to the active participation of all banking sectors. About 71% of registrations are made by Public Sector Banks, 19% by Local District Banks, 6% by Private Sector Banks, 3% by Payment Banks and Microfinance Banks.
The State Bank of India, the Bank of India, the Bank of India, the Bank of Baroda and the Central Bank of India have achieved an annual goal in the category of Public Sector Banking.
While Vidarbha Konkan Bank, Tripura Gramin Bank, Jharkhand RajyaGramin Bank, PaschimBangaGramin Bank, Baroda UP Bank, UttarbangaKsheriyaGramin Bank, Aryavart Bank, Baroda Gujarat Gramin Bank, Uttar Bihar Gramin Bank, Maharashtra Gramin Bank, Odisha Gramya Bank, Madhya Pradesh Gramin Bank, Karnataka VikasGrameena Bank, Chaitanya Godavari Grameena Bank, Telangana Grameena Bank, Andhra Pradesh GrameenaVikas Bank, Baroda Rajasthan KshetriyaGramin Bank, Rajasthan MarudharaGramin Bank, Dakshin Bihar Gramin Bank, Prathama UP Gramin Bank, Punjab GravaiGravai Bank BarthiarGrama Bank, Andhra PragathiGrameena Bank, Manipur Rural Bank and UttarakhandGramin Bank have achieved annual targets in the Regional Rural Bank category.
Also, Tamilnad Mercantile Bank, AU Small Finance Bank, Shri MahilaSewaSahakari Bank, Kalupur Commercial Co-Operative Bank, Sabarkantha District Central Co-Operative Bank and Rajkot NagarikSahakari Bank achieved targets of the year in some categories of banks.
Apart from Banks, 9 State Bank Banking Committees Bihar, Jharkhand, Assam, Uttar Pradesh, West-Bengal, Rajasthan, Madhya Pradesh, Odisha and Tripura have reached terms of the year under APY.
Of all APY subscribers as at 31 March 2022, approximately 80% of subscribers opted for a pension of Rs 1000 and 13% for a pension plan of Rs 5000. Of all APY subscribers who are -44% are registered women and 56% are registered men. In addition, of all APY subscribers, 45% are between the ages of 18 and 25.
On Independence Day 2021 our esteemed Prime Minister emphasized on the implementation of the government’s social security system which includes Atal Pension Yojana for everyone who has a right to it. The PFRDA, in line with the Government’s mission to fulfill its commitment to implement community outreach programs in partnership with all SLBCs and RRBs across the country. In FY 2021-22, 13 such physical access programs have been developed and the remaining programs will be implemented in the current financial year.
PFRDA develops Jan Dhan account identification strategies, promoting a digital registration system to target young people, including other Central services, Provincial Governments and agencies such as the NRLM / SRLM APY access programs through webinars and conferences urban.
Highlighted the main points
Atal Pension Jojana is a guaranteed pension system of the Indian government controlled by the PFRDA. The system allows any Indian citizen between the ages of 18-40 to join a bank or post office branch where a person has a savings bank account. Under this scheme, the registrant will receive a minimum guaranteed pension of Rs.1000 to Rs. 5000 per month from the age of 60, depending on his contribution. The same pension will be paid to the registrant’s spouse after the death of the registrant and upon the death of both the registrant and his or her spouse, pension funds collected up to 60 years of the registrant will be returned to the nominee.
The PFRDA is committed to taking the number of students enrolled under APY to a higher level and has contributed to making India a pensionable society.
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