Atal Pension Yojana, APY - GS questions based on daily current affairs

1)   Atal Pension Yojana Service Providers comprise of

1) Private Sector Banks
2) Department of Posts
3) Regional Rural Banks

a. 1, 3
b. 2, 3
c. 1, 2
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Explanation:

  • Atal Pension Yojana is being implemented through the APY Service Providers comprising of Public Sector Banks, Private Sector Banks, Regional Rural Banks, Cooperative Banks and Department of Post both in urban and rural areas across the country.
  • If the actual returns on the pension contributions during the accumulation phase is higher than the assumed returns for the minimum guaranteed pension, such excess returns are passed on to the subscriber, resulting in enhanced scheme benefits.
2)   Government has released INR 100 crore towards which yojana for 2015-2016?

a. Atal Pension Yojana
b. Sukanya Samriddhi Yojana
c. Nai Roshni Scheme
d. None of the above
Answer  Explanation 

ANSWER: Atal Pension Yojana

Explanation:
Government of India has released INR 100 crore towards co-contribution for Atal Pension Yojana for 2015-2016.

  • As per the scheme, those who have registered before March 31, 2016 will get co-contribution from the government which will be 50 percent of the subscriber contribution up to a total of INR 1000.
  • Co-contribution will be for 5 years from 2015-2016 to 2019-2020.
  • Government of India through PFRDA has released co-contribution for 2015-2016 for 16.96 lakh eligible APY subscribers amounting to INR 99.57 crore.
  • Subscribers lacking pending contribution in accounts till March 2016 won’t be paid with co-contribution
  • Government is implementing Atal Pension Yojana through banks and Department of Post.
  • Total number of subscribers registered under this yojana has crossed 30 lakh as on June 30,2016.

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