New Delhi - The government has rolled out Aadhaar-enabled digital enrollment of Atal Pension Yojana (APY) which will not require submission of physical form by the subscriber, thus enabling them to register for the scheme without visiting a bank or post office.
So far, APY was available for subscription through banks, banking correspondents and through internet banking.
"Now, APY is available on eNPS platform and any eligible Indian citizen can enroll through the APY@eNPS channel by visiting www.enps.nsdl.com. The customers of the bank can visit eNPS portal and submit aadhaar/ bank name and savings bank account number to join the scheme," the Pension Fund Regulatory and Development Authority (PFRDA) said.
"PFRDA has developed the process to offer APY enrolment through e-National Pension System (NPS) platform for wider reach. Under this channel, a complete end to end digital environment for subscription is enabled without submission of physical form at the convenience of the customer without visiting bank or post office," it said.
Punjab National Bank is the first bank to operationalise APY@eNPS and quite a few other banks are expected to launch this platform shortly.
Any person in the age group of 18 to 40 years with a savings bank account and Aadhaar can register for APY by providing the minimum information in the APY@eNPS portal as rest of the information will be auto populated from the respective bank.
This new feature not only makes it easy for the subscriber to join the APY but also reduces the workload for the banks/postal branch which are implementing the APY.