You are here: Home » Economy & Policy » News
Business Standard

Over 4 mn subscribers enrolled under Atal Pension Yojana so far this fiscal

With the new additions, the total enrolments under the APY have crossed 2.63 crore, said the Pension Fund Regulatory and Development Authority (PFRDA) in the release

Topics
Atal Pension Yojana | pension schemes

Press Trust of India  |  New Delhi 

Atal Pension Yojana likely to miss December target

More than 40 lakh new subscribers have been enrolled under the (APY), government's pension scheme, so far this fiscal year, said a release on Tuesday.

With the new additions, the total enrolments under the APY have crossed 2.63 crore, said the Pension Fund Regulatory and Development Authority (PFRDA) in the release.

APY is a guaranteed pension scheme of the government which offers triple benefits to the subscriber, on attaining 60 years of age. The benefits are: minimum guaranteed pension to the subscriber, same guaranteed pension to the spouse after the demise of subscriber and return of the accumulated pension wealth till age 60 of the subscriber to the nominee.

"More than 40 lakh new subscribers have been enrolled under APY during the financial year 2020-21 (April 1, 2020 - November 13, 2020)," the PFRDA said.

As per the release, State Bank of India sourced more than 10 lakh new APY accounts while Canara Bank, Indian Bank, Central Bank of India, Bank of India, Bank of Baroda, Airtel Payments Bank Ltd, Punjab National Bank, Axis Bank Ltd and Indian Overseas Bank sourced more than one lakh accounts.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 24 2020. 23:42 IST
RECOMMENDED FOR YOU
.