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PFRDA organised Felicitation cum Strategy Review Meeting for the expansion of the Atal Pension Yojana (APY) in East Zone at Kolkata

PFRDA organized APY Felicitation cum Strategy Review Meeting on 5th July 2024 at Taj City Centre New Town, Kolkata to review the strategies of Banks and State Level Banker’s Committees (SLBCs) of East Zone for FY 2024-25 for the expansion and comprehensive coverage of APY. Further, the achievers during the FY 2023-24 were felicitated during the program for their performance under APY.

The total gross enrolments under Atal Pension Yojana have crossed 6.65 crore as of 30thJune 2024 of which more than 1.22 crore new subscribers were enrolled in F.Y. 2023-24 (the highest ever in a financial year since inception). This achievement has a major contribution from the States and Banks of East Zone.

Most of the SLBCs in the East Zone over-achieved the annual target of FY 2023-24 with Bihar achieving 177% of the target followed by Assam (159%) and Jharkhand (158%). Similarly, the Regional Rural Banks of the Zone have also performed well with Jharkhand Rajya Gramin Bank achieving264 Average Account Per Branch (AAPB). It was followed by Tripura Gramin Bank (197 AAPB) and Assam Gramin Vikas Bank (168 AAPB). As on 31st March 2024, APY gross coverage in the states of East Zone has surpassed 1.93 Cr. enrolments.

Dr. Deepak Mohanty, Chairman, PFRDA, in the keynote address, gave an overview of the pension system across the world, the growing old age population and the concerns of old age security keeping in view the increasing longevity and the strain on public exchequer. He emphasised on the needs for schemes such as Atal Pension Yojana which is a low cost, low contributions pension scheme launched by GOI specifically targeted for the informal and unorganised sector and has many benefits for the subscribers.

PFRDA, with a view to promote and expand the coverage of the Scheme, has undertaken several new initiatives, which includes conducting APY Outreach programs, Subscriber Awareness Programs, releasing mass media campaigns, etc. Further, to enhance awareness and the outreach of the Scheme in a simple and easy-to-understand language, PFRDA has released a booklet consisting of a one-pager APY flyer/ handout in Hindi, English, and all other 21 languages that are included in the Eighth Schedule of the Indian Constitution. Bengali, Assamese, Odiya, Manipuri, Maithili are the Eastern languages which are part of the Booklet.

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