Atal Pension Yojana: Rs 5000/month pension plan opted by 13% of 4 crore subscribers, says PFRDA

Atal Pension Yojana: The total enrollments under APY Scheme have crossed 4.01 crore as on March 2022 out of which more than 99 lakh APY accounts were opened during FY 2021-22.

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Atal Pension Yojana (APY) news: The total enrollments under APY scheme have crossed 4.01 crore as on March 2022 out of which more than 99 lakh APY accounts were opened during FY 2021-22, PFRDA said in a statement today. 

Out of the total enrolments under APY as on 31st March 2022, nearly 80% subscribers have opted for Rs 1000 pension plan and 13% for Rs 5000 pension plan. Out of the total APY subscribers 44% are female subscribers while 56% are male subscribers. Further, out of the total APY subscribers, 45% are aged between 18 and 25 years.

The regulator further said that the scheme had seen this tremendous success due to the active participation of all categories of banks. Around 71% of enrolments are done by public-sector banks, 19% by Regional Rural Banks, 6% by Private Sector Banks, 3% by Payment and Small Finance Banks.

State Bank of India, Indian Bank, Bank of India, Bank of Baroda and Central Bank of India achieved annual target in the Public-sector Bank category.

While Vidarbha Konkan Bank, Tripura Gramin Bank, Jharkhand Rajya Gramin Bank , Paschim Banga Gramin Bank, Baroda UP Bank, Uttarbanga Ksheriya Gramin Bank ,Aryavart Bank, Baroda Gujarat Gramin Bank, Uttar Bihar Gramin Bank, Maharashtra Gramin Bank, Odisha Gramya Bank, Madhya Pradesh Gramin Bank, Karnataka Vikas Grameena Bank, Chaitanya Godavari Grameena Bank, Telangana Grameena Bank, Andhra Pradesh Grameena Vikas Bank, Baroda Rajasthan Kshetriya Gramin Bank, Rajasthan Marudhara Gramin Bank, Dakshin Bihar Gramin Bank, Prathama UP Gramin Bank, Punjab Gramin Bank, Puduvai Bharthiar Grama Bank, Andhra Pragathi Grameena Bank, Manipur Rural Bank and Uttarakhand Gramin Bank achieved annual targets in the Regional Rural Bank category.

Also, Tamilnad Mercantile Bank, AU Small Finance Bank,Shri Mahila Sewa Sahakari Bank, The Kalupur Commercial Co-Operative Bank, The Sabarkantha District Central Co-Operative Bank and Rajkot Nagarik Sahakari Bank achieved annual target in other bank categories.

Apart from the banks, 9 State Level Banker’s Committees in Bihar, Jharkhand, Assam, Uttar Pradesh, West-Bengal, Rajasthan, Madhya Pradesh, Odisha and Tripura achieved annual targets under APY.

The statement said that PFRDA has strategized to target Jan-dhan accounts holders, promote digital mode of enrolment to target young population, involving other Central ministries, State Governments and agencies like NRLM/ SRLM for APY outreach programs through webinars and townhall meetings.

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First published on: 21-04-2022 at 15:48 IST