Small Finance Banks and Payment Banks to offer Atal Pension Yojana

Posted on:27 Jan 2018 11:40:56
Small Finance Banks and Payment Banks to offer Atal Pension Yojana
27 January 2018 Current Affairs: Payments Banks and Small Finance Banks are a New Model of banks conceptualized by the Reserve Bank of India (RBI).

11 Payment Banks and 10 Small Finance Banks have received a license from Reserve Bank of India to start banking operations in India.

Small Finance Banks and Payment Banks are new age banks and given the strength of the bank, expertise and it reaches, Small Finance Bank and Payment Bank can play a pivotal role in the outreach of 83 lacs subscribers under Atal Pension Yojana (APY).

APY is a Government's Old Age Pension Scheme being implemented through all Banks across the country as per the mandate received from the Ministry of Finance and monitored periodically at PMO. PM Narendra Modi had launched the Social Security Scheme on May 9th, 2015 and dedicated the First Ever Guaranteed Pension Product to the people of the country.

Following are the banks that have started banking operations:

Ujjivan Small Finance Bank.

Janalakshmi Small Finance Bank.

Equitas Small Finance Bank.

A U Small Finance Bank.

Capital Small Finance Bank.

ESAF Small Finance Bank.

Utkarsh Small Finance Bank.

Suryoday Small Finance Bank.

Fincare Small Finance Bank.

Paytm Payment Bank.

Airtel Payment Bank.

India Post Payment Bank.

Fino Payment Bank.
Payments Banks and Small Finance Banks are a New Model of banks conceptualized by the Reserve Bank of India (RBI).

11 Payment Banks and 10 Small Finance Banks have received a license from Reserve Bank of India to start banking operations in India.

Small Finance Banks and Payment Banks are new age banks and given the strength of the bank, expertise and it reaches, Small Finance Bank and Payment Bank can play a pivotal role in the outreach of 83 lacs subscribers under Atal Pension Yojana (APY).

APY is a Government's Old Age Pension Scheme being implemented through all Banks across the country as per the mandate received from the Ministry of Finance and monitored periodically at PMO. PM Narendra Modi had launched the Social Security Scheme on May 9th, 2015 and dedicated the First Ever Guaranteed Pension Product to the people of the country.

Following are the banks that have started banking operations:

Ujjivan Small Finance Bank.

Janalakshmi Small Finance Bank.

Equitas Small Finance Bank.

A U Small Finance Bank.

Capital Small Finance Bank.

ESAF Small Finance Bank.

Utkarsh Small Finance Bank.

Suryoday Small Finance Bank.

Fincare Small Finance Bank.

Paytm Payment Bank.

Airtel Payment Bank.

India Post Payment Bank.

Fino Payment Bank.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 October

17 OCTOBER
NEWS
16 OCTOBER
NEWS
15 OCTOBER
NEWS
14 OCTOBER
NEWS

Current Affairs 2018 September

30 SEPTEMBER
NEWS
29 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS

Current Affairs 2018 August

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS