Atal Pension Yojana: Top Performing Banks Honored in Chennai

Chennai, Apr 25 (PTI) The Pension Fund Regulatory and Development Authority (PFRDA) on Friday held the 'Atal Pension Yojana' felicitation and strategy review programme in the city, honouring top-performing banks and financial institutions for their contributions to the scheme's growth.

In the financial year 2024-25, new enrollments under the scheme surpassed 1.17 crore, marking an 18 per cent growth and bringing the total coverage to 7.61 crore. Of the new enrollees, a record 55 per cent were women.

PFRDA Chairperson Deepak Mohanty, who chaired the session, emphasised the leadership of the South Zone in expanding the Atal Pension Yojana and praised the contributions from the banks, a press release said on Friday.

Both the public sector and regional rural banks from the South played a pivotal role in the initiative. Indian Bank achieved 118 per cent of its target, while 10 Regional Rural Banks (RRB), including Andhra Pragathi Grameena Bank, secured the top spot among RRBs.


With Atal Pension Yojana emerging as a trusted retirement solution for millions, PFRDA reaffirmed its commitment to working closely with banks and post offices to ensure every eligible citizen is covered, securing a dignified future.

PFRDA Executive Director Venkateswarlu Peri, Chief General Manager Pravesh Kumar, and senior officials from various banks also participated in the meeting, the release added.

Introduced in the 2015-16 budget, the Atal Pension Yojana offers a guaranteed monthly pension of Rs 1,000 to Rs 5,000 for subscribers. The Government of India contributes 50 per cent of the subscriber's contribution, or Rs 1,000 per annum, whichever is lower.

This co-contribution is available for those not covered by any statutory social security schemes and who are not income tax payers.