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By Sandeep Pattnaik

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Bhubaneswar: Pension Fund Regulatory and Development Authority [PFRDA] convened a conference on Atal Pension Yojana (APY) for Banks in Odisha on 04th September, 2015 at NABARD Regional Office here, to enhance the role of the Banks in the recently launched flagship pension scheme of the country.

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The scheme provides minimum guaranteed pension to subscribers from Rs 1000-Rs 5000 along with the co-contribution to eligible subscribers for an amount up to Rs 1000.  All Indian Citizens in the age group of 18-40 years may join the scheme through any bank branch.

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Hemant G. Contractor, Chairman PFRDA briefed about the contours of Old Age income security and advised all the participants to play an active part in outreach of the scheme. During the day, he met the State Chief Secretary Gokul Chandra Pathi along with secretaries of various departments to solicit their support in offering the pension scheme to the unorganized workforce attached to the departments.

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A G Das, CGM, PFRDA, S K Kale, Chief General Manager, NABARD highlighted the importance of adopting APY by the Cooperative Banks of Odisha and elaborated various facets of financial inclusion.

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It is to be noted that, Orissa has a population of 4.20 crore and  40% of the population is in the age group of 18-40 years. This demographic dividend of the State provides ample scope for PFRDA to target the scheme in a more meaningful manner.

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The Chairman, PFRDA also urged the state to implement NPS more inclusively among the  State Autonomous Bodies, Universities and Colleges of the State.As on date, the state has more than 1 lac NPS subscribers employed in the various departments of the state and have contributed more than 960 crores into NPS.

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Public Sector Banks, Regional Rural Banks, District Central Cooperative Banks, State Apex Cooperative Banks and Urban Cooperative Banks in the state participated in the conference.

September 8, 2015 • No Comment