**Executive Summary**
The Pension Fund Regulatory and Development Authority (PFRDA) organized an Atal Pension Yojana (APY) felicitation and strategy review program in Mumbai on May 23, 2025. The event recognized top-performing banks and SLBCs/UTLBC from the West Zone for their contribution to APY's growth, outlining strategies for future expansion in FY 2025-26. In FY 2024-25, new enrolments crossed 1.17 crore.
**Key Points / Main Content**
* **APY Felicitation Programme & Strategy Review:**
* PFRDA held the event on May 23, 2025, in Mumbai.
* The event honored top-performing banks and SLBCs/UTLBC from the West Zone.
* Strategic priorities for FY 2025-26 were outlined.
* **FY 2024-25 APY Performance:**
* New enrolments reached 1.17 crore, an 18% growth.
* Total coverage reached 7.61 crore.
* 55% of new enrolments were women.
* **Bank Performance in the Western Zone:**
* Bank of India led Public Sector Banks (PSBs) with 126% achievement.
* State Bank of India achieved 123%.
* Union Bank of India achieved 103%.
* All Regional Rural Banks (RRBs) in the zone surpassed their targets, led by Vidarbha Konkan Gramin Bank at 132%.
* Kotak Mahindra Bank led the private sector with 212%.
* AU Small Finance Bank achieved target with 109%.
* Shri Mahila Sewa Sahakari Bank led co-operative banks with 400% achievement.
* **PFRDA's Commitment:**
* PFRDA reaffirmed its commitment to work with banks and post offices.
* The goal is to ensure every eligible citizen is covered under the APY scheme.
**Impact Analysis**
**Banks and SLBCs/UTLBC**
* **Impact:** Recognized and incentivized based on their APY performance in the West Zone.
* **Action Required:** Continue to expand APY's reach and contribute to future growth in FY 2025-26.
**PFRDA**
* **Impact:** Responsible for overseeing and promoting the APY scheme.
* **Action Required:** Continue to work closely with banks and post offices to ensure coverage of all eligible citizens.
**Citizens**
* **Impact:** Provided with a trusted retirement solution.
* **Action Required:** Consider enrolling in the APY scheme to secure a dignified future.
Key Entities Referenced
Atal Pension Yojana (APY): A government-backed pension scheme in India, designed to provide a guaranteed pension to subscribers in the unorganized sector.
Pension Fund Regulatory and Development Authority (PFRDA): The regulator and developer of the pension sector in India.
Mumbai, India: Location of the Atal Pension Yojana (APY) Felicitation Programme and Strategy Review Meeting.
PRESS RELEASE
PFRDA conducts Atal Pension Yojana (APY) Felicitation Programme and Strategy Review
Meeting in Mumbai
Mumbai, India – May 23, 2025 – The Pension Fund Regulatory and Development Authority
(PFRDA) organised a felicitation-cum-strategy review programme for the Atal Pension Yojana
(APY) on 23rd May 2025 (Friday) at Four Seasons Hotel, Mumbai. The event honoured top-
performing banks and SLBCs/UTLBC from the West Zone for their exceptional contribution
to APY’s growth and outlined strategic priorities to further expand its reach in FY 2025–26.
Chairing the session, Dr. Deepak Mohanty, Chairperson, PFRDA, emphasised the West Zone’s
leadership in APY expansion, lauded banks' contributions, and urged collective efforts to build
a pensioned and financially secure India. He was joined by Shri Pravesh Kumar, Chief General
Manager, PFRDA, along with senior representatives from participating banks and SLBCs/
UTLBC.
In FY 2024–25, new enrolments crossed 1.17 crore, recording an 18% growth, pushing total
coverage to 7.61 crore. Of these new enrolments, a record 55% were women, reflecting
increasing financial awareness and gender balance. APY has seen strong momentum with more
than 1 crore new subscribers in each of the past three financial years. Western zone’s banks
played a pivotal role, with Public Sector and Regional Rural Banks driving grassroots
enrolments.
Banks in the Western Zone showcased exemplary performance in FY 2024-25. Among Public
Sector Banks (PSBs), Bank of India registered 126% achievement, followed by State Bank of
India with 123%, and Union Bank of India with 103%. All four Regional Rural Banks (RRBs)
in the zone surpassed their targets, with Vidarbha Konkan Gramin Bank achieving 132%,
Baroda Gujarat Gramin Bank - 119%, Maharashtra Gramin Bank - 117%, and Saurashtra
Gramin Bank - 103%. In the private sector, Kotak Mahindra Bank stood out with stellar 212%
followed by IDBI Bank - 145%, IndusInd Bank - 152%, Yes Bank - 112% and IDFC First
Bank - 101%. AU Small Finance Bank was the only bank in its category to achieve target with
109%. Among co-operative banks, Shri Mahila Sewa Sahakari Bank led with an outstanding
400% achievement followed by Sabarkantha District Central Co-operative Bank with 111%
and Amreli Jilla Madhyastha Sahakari Bank - 100%.
With APY emerging as a trusted retirement solution for millions, PFRDA reaffirmed its
commitment to working closely with banks and post offices to ensure every eligible citizen is
covered under the scheme, securing a dignified future for all.
****