BANKING AFFAIRS

Detailed explanation-1: - The Atal Pension Yojana (APY) was launched on 09.05.2015 to create a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector. APY is administered by Pension Fund Regulatory and Development Authority (PFRDA).

Detailed explanation-2: -Targeted section of Atal Pension Scheme in India is Unorganised Sector Workers. Atal Pension Yojana (APY) is a government-backed pension scheme, primarily targeted at the unorganised sector. It is a social security scheme to provide a defined pension between Rs 1, 000 to Rs 5, 000.

Detailed explanation-3: -4000 per month, Rs. 5000 per month, at the age of 60 year. Under APY, the monthly pension would be available to the subscriber, and after him to his spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber.

Detailed explanation-4: -Atal Pension Yojana (APY, translation: Atal’s Pension Scheme), formerly known as Swavalamban Yojana (SY, translation: Self-Support Scheme) is a government-backed pension scheme in India, primarily targeted at the unorganised sector.

Detailed explanation-5: -Atal Pension Yojana Scheme Details By investing through this scheme, one can get a fixed pension ranging from Rs. 1, 000 to a maximum of Rs. 5, 000/month. The eligible Atal Pension Yojana age limit is 18 and up to 40 years.