More than 40% hike in enrolments under Atal Pension Yojana in FY22 from FY20: Bhagwat Kisanrao Karad
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
The Union Minister of State for Finance Bhagwat Kisanrao Karad has said that the total fund allocated under the Atal Pension Yojana (APY) for Government Co-contribution, Payment of Incentive to Banks, Promotional Campaign, and Gap fund, since inception up to February, 2023, is Rs 2078.94 crore out of which an amount of Rs. 1529.41 crore has been released till February 2023.
Besides, the Minister stated that as per data provided by the Pension Fund Regulatory and Development Authority (PFRDA), during FY 2019-20 (FY20), 2020-21 (FY21), and 2021-22 (FY22), enrolments under the Scheme were 68,83,373; 79,14,154 and 99,11,472 respectively. Enrolments grew more than 40% in FY22 from FY20.
Karad further underlined efforts being undertaken by PFRDA to promote APY and increase its coverage such as virtual capacity building programs for Banking Correspondents (BCs) and field staff of Banks, Self Help Group (SHG) members, bank-sakhis of SRLMs are being organised to propagate APY to eligible beneficiaries; physical APY outreach program and townhall meetings are organised at various locations pan India and activating online channels such as e-APY, net-banking, mobile app and bank’s web-portal, for easy online onboarding.
