Thursday, February 15, 2018

PFRDA identifies 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme;The Number of Current APY subscribers crosses 86 Lacs mark

Ministry of Finance
PFRDA identifies 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme; The Number of Current APY subscribers crosses 86 Lacs mark.
15 FEB 2018

With a view to bring the economically disadvantaged section of the society in the unorganized sector within the pension fold or old age income security coverage, Government had launched the Atal Pension Yojana (APY)in May 2015.

Pension Fund Regulatory and Development Authority (PFRDA) in association with Department of Financial Services, Ministry of Finance conducts APY Outreach Programme on a regular basis.
Accordingly, PFRDA has observed a Campaign namely, Makers of Excellence for the Chairmen and MDs of all the Public Sector Banks, Private Sector Banks, Regional Rural Banks, Cooperative Banks (Rural & Urban) & Department of Post for registration of subscriber under APY during the month of Dec 2017 for a fortnight. Under the campaign, nearly, 6 lacs APY accounts were sourced by the APY Service Provider Banks. Targets were allocated to various banks to be achieved during the Campaign. A total of 21 banks- 6 Public sector banks, 14 Regional Rural Banks and 1 Cooperative Bank were able to achieve the target under the campaign and became the Makers of Excellence. PFRDA has planned to award the Top Management of the winning banks at the upcoming PFRDA Pension Conclave in national capital.

The winning Banks and their performance is as below:
S. No.Name of the APY Service ProviderCategoryNumber of BranchesMinimum No. of Funded Accounts to be Sourced under Makers of Excellence CampaignActual No. of Funded Accounts Sourced under Makers of Excellence CampaignRemarks (Qualified
/Not Qualified
1CANARA BANKPSU6,05035,000101,669Qualified
2INDIAN BANKPSU2,58815,00076,823Qualified
3ANDHRA BANKPSU2,90315,00057,315Qualified
4BANK OF BARODAPSU5,46030,00042,665Qualified
5ALLAHABAD BANKPSU3,14320,00030,029Qualified
6VIJAYA BANKPSU1,60310,00028,241Qualified
7GRAMIN BANK OF ARYAVARTRRB7003,5005,915Qualified
8MADHYA BIHAR GRAMIN BANKRRB6983,4905,507Qualified
10PRATHAMA BANKRRB4122,0605,288Qualified
14PURVANCHAL BANKRRB5702,8503,368Qualified
15KAVERI GRAMEENA BANKRRB4972,4852,942Qualified
16DENA GUJARAT GRAMIN BANKRRB2341,1702,322Qualified
17BIHAR GRAMIN BANKRRB3761,8802,258Qualified
19PALLAVAN GRAMA BANKRRB2561,2801,431Qualified
20SAPTAGIRI GRAMEENA BANKRRB2071,0351,074Qualified

The APY scheme became operational from 1st June, 2015 and is available to all citizens of India in the age group of 18-40 years. Under the Scheme, a subscriber would receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month, depending upon his contribution, from the age of 60 years. The same pension would be paid to the spouse of the subscriber and on the demise of both the subscriber and spouse, the accumulated pension wealth is returned to the nominee.

The APY Scheme follows the same investment pattern as applicable to the NPS contribution of Central Govt employees. During the year 2016-17, it has earned a return of 13.91%.
The number of current APY Subscribers has crossed 86 lacs mark. The yearly addition in APY enrollment is provided below:

APY Subscriber Addition (In Lacs)
Year2015-162016-172017-18( till 13thFeb 2018)Total
No of Subscribers ( lacs)24.8423.9937.6386.46



Post a Comment

Now Trending

Expected DA January 2021 - AICPIN for November 2020 increased by 0.4 points

  Expected DA January 2021 - AICPIN for November 2020 increased by 0.4 points Expected DA January 2021 Consumer Price Index for Industri...


All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. Our blog "Central Government Staff news" accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog.

Links to other websites that have been included on this blog are provided for public convenience only.

The blog "Central Government Staff news" is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Any suggestions write to us