BANKING AFFAIRS

Detailed explanation-1: -Atal Pension Yojana (APY) is open to all bank account holders. The scheme is available to any citizen of India with Age 18-40 Years. The subscribers would receive the fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs.

Detailed explanation-2: -Atal Pension Yojana (APY), a pension scheme for citizens of India, is focused on the unorganised sector workers. Under the APY, guaranteed minimum pension of Rs. 1, 000/-or 2, 000/-or 3, 000/-or 4, 000 or 5, 000/-per month will be given at the age of 60 years depending on the contributions by the subscribers.

Detailed explanation-3: - 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-4: -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.

Detailed explanation-5: -This is a beneficial, since it provides people with an assured minimum pension sum to meet their expenses after they turn 60 years of age. The Atal Pension Yojana is very simply structured, which makes it easy to understand for anyone who wants to open an account under the scheme.