Noida: You can now subscribe for the Atal Pension Yojana (APY) digitally through the eNPS platform. Pension Fund Regulatory and Development Authority (PFRDA), the administrative authority for APY, has taken several steps for extension of the benefits of the scheme to the citizens of India. One such step being that subscribers can now enroll through the Internet banking without submission of the physical application form.
Many banks are offering this facility to their customers. Efforts are also being made to completely digitize the APY enrolment. PFRDA has developed the process to offer APY enrolment through the eNPS platform for wider reach. The eNPS platform has already been enabled for NPS subscriptions and this user-friendly platform will be expanded to make subscription under APY in a complete end-to-end digital environment without submission of physical form at the convenience of the customer without visiting any bank or post office.
PFRDA has conducted meetings with banks and the Department of Post on 23.05.2017 and 29.05.2017 at its offices at New Delhi and Chennai, respectively, for the earliest roll-out of the facility.
B S Bhandari, Whole Time Member, Economics, PFRDA, had addressed the meetings where senior officials of IT/Nodal officers of banks/ Deptt of Post were present in Delhi. A G Das, Chief General Manager, PFRDA, briefed about the benefits of the APY@eNPS platform to the service providers under APY. The APY service providers have been advised to develop APY@eNPS channel features before June 30, 2017.
The meeting at Chennai was chaired by K Mohan Gandhi, DGM, PFRDA, wherein he highlighted the benefits of APY@eNPS platform and urged the IT team of banks to develop the facility.
The APY subscribers’ base is more than 54 lakh. APY fund managers have generated a return of 13.91%.