PFRDA begins campaign in UP to boost APY enrolment

To mobilise subscribers under the Atal Pension Yojana (APY), the Pension Fund Regulatory and Development Authority (PFRDA) has started a state-wide campaign in Uttar Pradesh this week.
The 'People First' campaign began on November 7 and will go until November 14 in Uttar Pradesh. It has seen more than 15,000 APY accounts in the first three days of its launch in the state.
The 'People First Campaign' will be a series of campaigns conducted at various states across the country to increase APY outreach, PFRDA said.
The campaign has engaged all the bank and its branches as well as postal branches in the state to enroll people under APY.

Uttar Pradesh (UP) has more than 17,000 APY touch points which include all bank branches and post offices in the state. Out of 17,000 branches, more than 15,000 branches have sourced at least one APY account in the current year.
PDFRA Chairman Hemant G Contractor said the Authority will tap 12 big states including Bihar, Maharashtra, Tamil Nadu, Karnataka, Rajasthan and Madhya Pradesh in coming days to increase APY subscriber base.

Contractor said UP is the largest state in the country with a population of 7.1 crore in the APY scheme age group of 18-40 years.
UP is the largest contributor so far in the scheme, with nearly 7 lakh enrolment.

"There is however considerable scope for future growth in APY enrolments in the state," he added.
Overall, APY subscriber base has reached 71 lakh and more than 10,000 APY accounts being opened every day.
PFRDA hopes to reach 1 crore subscribers under APY by the end of this fiscal.