Team Blitz India
NEW DELHI: A record 12.2 million new accounts were opened in the Atal Pension Yojana (APY) during 2023-24 taking the total enrolments to 66.2 million under the Government’s social security scheme, according to figures compiled by the Pension Fund Regulatory and Authority (PFRDA).
According to APY data, around 70.44 per cent of the total enrolments in the scheme has been done by public-sector banks, 19.80 per cent by regional rural banks, 6.18 per cent by private sector banks, 0.37 per cent by payment banks, 0.62 per cent by small finance banks and 2.39 per cent by cooperative banks.
“The government pension scheme achieved a growth of 24 per cent in gross enrolments at the end of FY 23-24 standing at 64.4 million. APY is rapidly gaining popularity among women and youth,” PFRDA chairman Deepak Mohanty said.
In FY24, out of the total enrolments, 52 per cent were women and out of the total gross enrolment since inception, 70 per cent subscribers are in the 18 to 30 years age group.
Uttar Pradesh has the highest number of over 10 million enrolments among states, followed by Bihar, Maharashtra, West Bengal and Tamil Nadu (5 million each); Madhya Pradesh, Andhra Pradesh, Rajasthan and Karnataka (3 million each); and Gujarat, Odisha, Jharkhand (2 million each). These 12 states account for more than 80% of enrolments.
