Ministry of Finance15-February, 2018 13:59 IST
PFRDA identifies 21 Banks as Makers of Excellence under Atal Pension Yojana Outreach Programme;The Number of Current APY subscribers crosses 86 Lacs mark.

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 A​uthority (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 B​anks and their performance is as below:

 

S. No.

Name of the APY Service Provider

Category

Number of Branches

Minimum No. of Funded Accounts to be Sourced under Makers of Excellence Campaign

Actual No. of Funded Accounts Sourced under Makers of Excellence Campaign

Remarks (Qualified/Not Qualified

1

CANARA BANK

PSU

6,050

35,000

101,669

Qualified

2

INDIAN BANK

PSU

2,588

15,000

76,823

Qualified

3

ANDHRA BANK

PSU

2,903

15,000

57,315

Qualified

4

BANK OF BARODA

PSU

5,460

30,000

42,665

Qualified

5

ALLAHABAD BANK

PSU

3,143

20,000

30,029

Qualified

6

VIJAYA BANK

PSU

1,603

10,000

28,241

Qualified

7

GRAMIN BANK OF ARYAVART

RRB

700

3,500

5,915

Qualified

8

MADHYA BIHAR GRAMIN BANK

RRB

698

3,490

5,507

Qualified

9

PRAGATHI KRISHNA GRAMIN BANK

RRB

650

3,250

5,383

Qualified

10

PRATHAMA BANK

RRB

412

2,060

5,288

Qualified

11

BARODA UTTAR PRADESH GRAMIN BANK

RRB

924

4,620

5,125

Qualified

12

ANDHRA PRADESH GRAMEENA VIKAS BANK

RRB

768

3,840

4,893

Qualified

13

BARODA RAJASTHAN KSHETRIYA GRAMIN BANK

RRB

819

4,095

4,560

Qualified

14

PURVANCHAL BANK

RRB

570

2,850

3,368

Qualified

15

KAVERI GRAMEENA BANK

RRB

497

2,485

2,942

Qualified

16

DENA GUJARAT GRAMIN BANK

RRB

234

1,170

2,322

Qualified

17

BIHAR GRAMIN BANK

RRB

376

1,880

2,258

Qualified

18

CHAITANYA GODAVARI GRAMEENA BANK

RRB

203

1,015

1,714

Qualified

19

PALLAVAN GRAMA BANK

RRB

256

1,280

1,431

Qualified

20

SAPTAGIRI GRAMEENA BANK

RRB

207

1,035

1,074

Qualified

21

THE BEGUSARAI CENTRAL COOPERATIVE BANK LTD

DCCB

9

45

113

Qualified

 

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 ​S​cheme, 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 ha​s​ crossed 86​ lacs mark​. The yearly addition in APY enrollment is provided below:

APY Subscriber Addition (In Lacs)

 

Year 

2015-16   

2016-17 

2017-18 ( till 13thFeb 2018)

Total
 

No of Subscribers ( lacs)

24.84

23.99

37.63

86.46

 

 

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DSM/RM​

(Release ID :176565)