Atal Pension Yojna News

The Labour Ministry has initiated talks on the voluntary and contributory pension plan that would enable people from all backgrounds to save for their retirement, irrespective of their work status.

The Central Government’s share of premium towards PMJJBY/PMSBY is met from the Social Security Fund maintained with LIC for the purpose. 

PFRDA new rule for premature exit processing of APY. New rule to benefit Atal Pension Yojna subscribers Read full PFRDA guideline here.

The State Government Scheme ranks second with 11 per cent share. The central autonomous bodies (CAB) continued to account for the least number of subscribers of NPS with a share of 1 per cent. Total assets under management (AUM) for the National Pension System schemes saw a year-on-year growth of over 38 per cent.

Atal Pension Yojana is the flagship social security scheme of the government. Any individual citizen of India can join NPS. NPS can be opened only in individual capacity.

The finance ministry on Monday said subscribers of the Atal Pension Yojna (APY) will have to link their Aadhaar to their accounts for availing up to Rs 1,000 government's co-contribution.

Besides NPA resolution and bank finances, the meeting also featured the government's financial inclusion schemes.

Jaitley also reviewed the financial performance of all the public sector banks (PSBs) at the meeting.

Besides, the minister will review the financial performance of all the public sector banks (PSBs) at the meeting, the first between Jaitley and them in the current fiscal.

Finance Minister Arun Jaitley will meet heads of PSU banks on Monday to discuss the issue of non-performing assets (NPAs) and the steps being taken by them to expedite the recovery of bad loans which have crossed Rs 6 lakh crore.