Enrollment under the Atal Pension Yojana (APY) has crossed the 5.20 crore mark.

  • The Atal Pension Yojana (APY) has crossed the 5.20 crore mark in total enrolment as of 31 March 2023.
  • The scheme has seen a growth of over 20%, enrolling more than 1.19 crore new subscribers in the financial year 2022-23.
  • The total assets under management (AUM) in APY is over Rs. 27,200 crore, and the scheme has generated an investment return of 8.69% since its inception.
  • In the public sector banks (PSBs) category, nine banks achieved the annual target, while Bank of India, State Bank of India and Indian Bank opened more than hundred APY accounts per branch.
  • Under the category of Regional Rural Banks (RRBs), 32 banks achieved the annual target, while Jharkhand State Gramin Bank, Vidarbha Konkan Gramin Bank, Tripura Gramin Bank and Baroda Uttar Pradesh Gramin Bank opened more than 160 APY accounts per branch.
  • 12 states have achieved their annual targets with the help of their respective State Level Banker’s Committee (SLBCs).

Atal Pension Yojana (APY) :

  • Under the APY, subscribers receive a guaranteed pension ranging from Rs. 1,000 to Rs. 5,000 per month from the age of 60 years, depending on their contributions.
  • After the death of the subscriber, his/her spouse gets the same pension, and on the death of both the subscriber spouse, the accumulated pension amount till the age of 60 years will be given to the nominee.

Qns : What is the Atal Pension Yojana (APY)?
अटल पेंशन योजना (APY) क्या है?

(A) A scheme for providing home loans
(B) A health insurance scheme
(C) A pension scheme
(D) A scheme for providing education loans

Answer : (C) A pension scheme

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