Bangalore, 9th August, 2024: In order to expand the coverage of Atal pension Yojana (APY), an outreach programme was conducted by the State Level Bankers’ Committee (SLBC),Karnataka and Pension Fund Regulatory and Development Authority (PFRDA).
Atal Pension Yojana is a guaranteed pension scheme of the Government of India which can availed by any citizen of India between the age group of 18-40 especially unorganized sector people and the low income earning people. The scheme has triple benefits on attaining the 60 years of age. First, it gives life time monthly fixed pension in the range of Rs. 1000 – 5000, second the spouse gets the same amount of pension for life time on the subscriber’s demise and thirdly, return of the entire accumulated corpus to the nominee.
The meeting was chaired by Ms. Mamta Shankar, Whome Time Member (Economics), Pension Fund Regulatory and Development Authority (PFRDA).
Shri. K J Srikanth, Convenor – SLBC Karnataka, Chief General Manager and Canara Bank given welcome Address.
Shri. M Bhaskara Chakravarthy, Deputy Convenor – SLBC Karnataka, General Manager and Canara Bank given inaugural Address.
Smt. Sreeja P Nair, Assistant General Manager, NABARDand RBI official also addressed the meeting.
During the programme, Ms. Mamta Shankar, WTM (Economics), PFRDA emphasized on the need of pension for securing old-age income of the unorganized sector in the country.
Shri. K J Srikanth, Convenor SLBC Karnataka & CGM Canara Bank he mentioned that the total enrolment in the Karnatakastate is 5.95 lakhs for FY 2023-24 against target 8.47 lakhs and with percentage of achievement of 70% as on 31.03.2024. There is still a large uncovered population.
During the programme, Lead District Managers and member Banks were also felicitated for their exemplary performance in the enrolment under APY. Under “ANNUAL AWARDS OF LEAD DISTRICT MANAGER FY 2023–24” LDMs of Chamarajanagara, Bidar, Kalaburgi, Yadgir, Davanagere, Chitradurga, Vijayapura & Gadag Districts were awarded. Under “ANNUAL AWARDS OF STATE CONTROLLING HEAD OF BANKS FY 2023-24” Banks of State Bank of India, Tamil Nadu Mercantile Bank, Kotak Mahindra Bank, Karnataka Vikas Gramin Bank, South Canara DCC Bank & Karnataka Bank.
In Karnataka state 38,10,372 APY (Count of PRANs) was enrolled till July 2024 from inception.
Ms. Mamta Shankar , WTM (Economics) PFRDA said, “PFRDA will be continuing its efforts to take the APY subscriber base to greater heights and strive to make our country a pensioned society”.
Shri. Ruby Vinayak Bhaosagar, Assistant General Manager,PFRDA given Presentation & Insights on APY.
In the programme, the house reviewed the Bank wise and District wise performance and advised all the Banks and Lead District Managers to give more focus on achieving targets under APY.
The programme was ended with vote of Thanks by Shri. B Parshwanath, DGM, SLBC Karnataka.