Thursday, 15 February 2018

PFRDA identifies 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme; The Number of Current APY subscribers crosses 86 Lacs mark


Ministry of Finance
PFRDA identifies 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme; The Number of Current APY subscribers crosses 86 Lacs mark.
15 FEB 2018

With a view to bring the economically disadvantaged section of the society in the unorganized sector within the pension fold or old age income security coverage, Government had launched the Atal Pension Yojana (APY)in May 2015.

Pension Fund Regulatory and Development Authority (PFRDA) in association with Department of Financial Services, Ministry of Finance conducts APY Outreach Programme on a regular basis.
Accordingly, PFRDA has observed a Campaign namely, Makers of Excellence for the Chairmen and MDs of all the Public Sector Banks, Private Sector Banks, Regional Rural Banks, Cooperative Banks (Rural & Urban) & Department of Post for registration of subscriber under APY during the month of Dec 2017 for a fortnight. Under the campaign, nearly, 6 lacs APY accounts were sourced by the APY Service Provider Banks. Targets were allocated to various banks to be achieved during the Campaign. A total of 21 banks- 6 Public sector banks, 14 Regional Rural Banks and 1 Cooperative Bank were able to achieve the target under the campaign and became the Makers of Excellence. PFRDA has planned to award the Top Management of the winning banks at the upcoming PFRDA Pension Conclave in national capital.

The winning Banks and their performance is as below:
< td bgcolor="#d7e4bc">Qualified
S. No.Name of the APY Service ProviderCategoryNumber of BranchesMinimum No. of Funded Accounts to be Sourced under Makers of Excellence CampaignActual No. of Funded Accounts Sourced under Makers of Excellence CampaignRemarks (Qualified
/Not Qualified
1CANARA BANKPSU6,05035,0001 01,669Qualified
2INDIAN BANKPSU2,58815,0007 6,823Qualified
3ANDHRA BANKPSU2,90315,0005 7,315Qualified
4BANK OF BARODAPSU5,46030,00042,665Qualified
5ALLAHABAD BANKPSU3,14320,0003 0,029Qualified
6VIJAYA BANKPSU1,60310,0002 8,241Qualified
7GRAMIN BANK OF ARYAVARTRRB7003,5005,915Qualified
8MADHYA BIHAR GRAMIN BANKRRB6983,4905,50 7Qualified
9PRAGATHI KRISHNA GRAMIN BANKRRB6503,2505,38 3Qualified
10PRATHAMA BANKRRB4122,0605,28 8Qualified
11BARODA UTTAR PRADESH GRAMIN BANKRRB9244,6205,12 5Qualified
12ANDHRA PRADESH GRAMEENA VIKAS BANKRRB7683,8404,89 3Qualified
13BARODA RAJASTHAN KSHETRIYA GRAMIN BANKRRB8194,0954,56 0Qualified
14PURVANCHAL BANKRRB5702,8503,36 8Qualified
15KAVERI GRAMEENA BANKRRB4972,4852,94 2Qualified
16DENA GUJARAT GRAMIN BANKRRB2341,1702,32 2Qualified
17BIHAR GRAMIN BANKRRB3761,8802,25 8Qualified
18CHAITANYA GODAVARI GRAMEENA BANKRRB2031,0151,71 4Qualified
19PALLAVAN GRAMA BANKRRB2561,2801,43 1Qualified
20SAPTAGIRI GRAMEENA BANKRRB2071,0351,07 4Qualified
21THE BEGUSARAI CENTRAL COOPERATIVE BANK LTDDCCB945113

The APY scheme became operational from 1st June, 2015 and is available to all citizens of India in the age group of 18-40 years. Under the Scheme, a subscriber would receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month, depending upon his contribution, from the age of 60 years. The same pension would be paid to the spouse of the subscriber and on the demise of both the subscriber and spouse, the accumulated pension wealth is returned to the nominee.

The APY Scheme follows the same investment pattern as applicable to the NPS contribution of Central Govt employees. During the year 2016-17, it has earned a return of 13.91%.
The number of current APY Subscribers has crossed 86 lacs mark. The yearly addition in APY enrollment is provided below:

APY Subscriber Addition (In Lacs)
Year2015-162016-172017-18( till 13thFeb 2018)Total
No of Subscribers ( lacs) 24.8423.9937.6386.46

PIB

Flash News

2% Dearness Allowance to Central Government employees & Pensioners

2% Dearness Allowance 2% Dearness Allowance to Central Government employees & Pensioners Cabinet approves two percent Dearness...