Srinagar: HDFC Bank has won top honours for its performance in the second phase of the Atal Pension Yojana from The Pension Fund Regulatory and Development Authority, statement issued by the bank said on Monday.
“HDFC Bank has won three awards including the best performing bank award for enrolling maximum number of Atal Pension Yojana subscribers. The awards are: Best performing bank – maximum APY subscribers, best performing bank in the private sector banks category, best performing bank – Atal Pension Yojana carnivals in private sector banks,” said the statement.
At a conference organised in Delhi, Snehalata Srivastava, Special Secretary, Department of Financial Services, Ministry of Finance presented the award to Vikas Pandey, Head, Inclusive Banking Initiatives, HDFC Bank, in the presence of Hemant Contractor, Chairman, Pension Fund Regulatory and Development Authority. HDFC Bank had won an award in Phase I as well. The Bank had won best performing bank in the private sector category award. Phase I of the scheme was rolled out in June 2015 and was followed by rolled out of Phase II in February 2016.
The statement added that the awards are recognition of HDFC Bank’s contribution in promoting and creating awareness and “thus increasing enrolment in the Government of India’s social security initiative for people working in the unorganised sector.”
HDFC Bank, as per the statement, offered the pension scheme through its 4200+ branches as part of a focused drive to enrol maximum possible number of people because approximately only 11 per cent of the Indian population is covered under a pension scheme.
Atal Pension Yojana is a social security scheme announced in Union Budget 2015-2016 and launched by the Government of India on May 9, 2015 to motivate people in lower income groups and those working in unorganized sector to start saving for their retirement.