Hyderabad: Andhra Bank has been awarded as best performing bank amongst all Public Sector Banks for its performance in enrolment of Atal Pension Yojana (APY) accounts. The award was received by Ajit Kumar Rath, executive director, Andhra Bank from Minister of State for Finance, Santosh Kumar Gangwar at New Delhi in the function orgainised by Pension Fund Regulatory and Development Authority (PFRDA)
Atal Pension Yojana scheme was launched on May 9, 2015, as one of the three Social Security Schemes by Prime Minister of India.The main objective of the APY scheme is to bring all those employed in rural and unorganised sector under the ambit of pension schemes. The idea of the scheme is to provide a definite pension to all Indians and make India a pensioned society. Any Indian national within the age group of 18 to 40 years is eligible for APY.