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Now you can easily open an Atal Pension Yojana (APY) account online by just using your Aadhaar number and without the need to visit a bank branch.

“eAPY offers seamless digital enrollment without the need to visit one’s bank branch, thus saving time, effort, cost and offers a great convenience," as per a Pension Fund Regulatory and Development Authority (PFRDA) circular. There are no additional charges for availing of the facility.

The government introduced APY for a pension-inclusive society wherein every Indian citizen who belongs to the unorganized sector can secure their old age income.

The scheme is administered by PFRDA under its administrative and overarching architecture of the National Pension System (NPS) through banks and branches of Department of Post, which are acting as APY Service Providers (APY-SP), according to the PFRDA circular.

The regulator, PFRDA, has been given eAPY go-ahead that will ease the onboarding of subscribers through Aadhaar.

As of now, the enrollment under the scheme occurs through physical, net banking or other digital modes provided by the respective APY-SPs. To increase the outreach and further simplify the process of subscription, PCRA (Protean e-Governance Technologies Central Recordkeeping Agency) has provided eAPY, the digital on boarding facility through Aadhaar eKYC/XML as an additional option.

Subscribers who prefer eAPY as a mode of registration need to ensure the following:

-The demographic information provided at the time of registration through eAPY by using e KYC/XML matches with the information available in bank records.

-The account should have sufficient balance towards the first instalment of APY contribution as per the choice of pension between 1000 - 5000.

-APY account activated after authentication of the information viz name and date of birth fetched from Aadhaar.

-Online registration rejected by the respective banks informed, with the reasons of rejection to those subscribers to resubmit their requests after rectification

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