*ATAL PENSION YOJANA TOTAL ENROLMENTS CROSSED 2.4 CRORE* *MORE THAN 17 LAC APY ACCOUNTS SOURCED DURING FY 2020-21*
August 25, 2020 • Canon Times Bureau

The Atal Pension Yojana launched by Government of India is being administered by PFRDA. The scheme can be joined by any Citizen of India between the age group of 18-40 years through the bank branches or post office where one has the savings bank account. Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month, depending upon his contributions, from the age of 60 years. The same pension would be paid to the spouse of the subscriber after death of the subscriber, and on the demise of both the subscriber and spouse, the pension wealth as accumulated till age 60 years of the subscriber, is returned to the nominee.

 

 

 

More than 17 lac APY accounts have already been sourced by 260 APY service Providers during the FY 2020-21. Overall, APY subscriber base has crossed 2.4 crore as on 20th August 2020. The year on year Bank Category wise number of APY enrolments is as follows:

 

 

 

Category of Banks

 

As on date (*March 31, 2016)

 

As on date (March 31, 2017)

 

As on date (March 31, 2018)

 

As on date (March 31, 2019)

 

As on date (March 31, 2020)

 

Additions from April 1, 2020 to August 20, 2020

 

As on date

 

(August 20, 2020)

 

 

 

Public Sector Banks

 

1,693,190

 

3,047,273

 

6,553,397

 

10,719,758

 

1,56,75,442

 

1,262,721

 

16,938,163

 

Private Banks

 

218,086

 

497,323

 

873,901

 

1,145,289

 

15,62,997

 

90,219

 

1,653,216

 

Small Finance Bank

 

-

 

-

 

-

 

9,190

 

15,760

 

266

 

16,026

 

Payment Bank

 

-

 

-

 

-

 

48,182

 

3,44,001

 

75,497

 

419,498

 

Regional Rural Banks

 

476,373

 

1,115,257

 

1,987,176

 

3,171,152

 

43,30,190

 

275,750

 

4,605,940

 

District Co-op Banks

 

21,222

 

29,791

 

33,880

 

38,863

 

48,581

 

403

 

48,984

 

State Co-op Banks

 

354

 

680

 

805

 

1,053

 

4,620

 

123

 

4,743

 

Urban Co-op Banks

 

327

 

3,507

 

10,936

 

14,469

 

17,355

 

957

 

18,312

 

DOP

 

75,343

 

189,998

 

245,366

 

270,329

 

3,02,712

 

2,675

 

305,387

 

Total

 

2,484,895

 

4,883,829

 

9,705,461

 

15,418,285

 

2,23,01,658

 

1,708,611

 

24,010,269

 

 

 

 

In the current financial year under Public Sector category, SBI has sourced the highest APY accounts so far, while under Private Sector, Axis Bank; under RRBs, Aryavart Bank and under Payment Banks, Airtel Payment Bank; have sourced the highest APY accounts.

 

 

 

Out of the total subscriber base as on 20th August 2020, nearly 73.38% subscribers have opted for Rs 1000 pension plan and 16.93% for Rs 5000 pension plan, 43.52% are female subscribers and 56.45% are male subscribers, 52.55% subscribers are aged between 21 to 30 years.

 

 

 

Encouraged by the increasing number of enrolments under the Scheme since its inception, PFRDA will continue its endeavour to popularize the by launching various APY Campaigns at national and State level, conduct of Town-hall meetings, engaging SLBCs and LDMs, wide publicity through digital media etc. in the FY 2020-21 to take APY enrolments to greater heights and contribute towards making India a pensioned society.