As of March 31, 2023, the number of people enrolled in the Atal Pension Yojana had reached 5.20 crore. In comparison to the previous financial year, the scheme added more than 1.19 crore new subscribers in FY23, an increase of more than 20%. The total assets under management (AUM) in APY are currently over US$ 3.32 billion (Rs. 27,200 crore), and the programme has produced an investment return of 8.69% since its inception.
Nine banks in the Public Sector Banks (PSBs) category met the yearly goal, and Bank of India, State Bank of India, and Indian Bank each sourced over 100 APY accounts per branch. While Jharkhand Rajya Gramin Bank, Vidharbha Konkan Gramin Bank, Tripura Gramin Bank, and Baroda Uttar Pradesh Gramin Bank each sourced more than 160 APY accounts per branch, 32 institutions in the Regional Rural institutions (RRBs) category met the annual objective.
Additionally, the annual objective set by the Ministry of Finance was met by Tamilnad Mercantile Bank, Dhanlaxmi Bank, and Airtel Payments Bank. Further, 12 states like Bihar, Jharkhand, Assam, Uttar Pradesh, West Bengal, Madhya Pradesh, Tripura, Rajasthan, Andhra Pradesh, Chhattisgarh, Odisha, and Uttarakhand also achieved their annual targets with the help and support of their respective State Level Banker’s Committee (SLBCs).
In collaboration with SLBCs and RRBs, Pension Fund Regulatory and Development Authority (PFRDA) conducted 47 APY events and Town Hall meetings across India. Numerous initiatives have been implemented, including the updated APY app, the digital onboarding service utilising Aadhaar, 17 podcasts to raise awareness of the advantages of APY, and a chatbot to answer simple questions about APY.
