India’s East Zone has emerged amongst the leading subscriber in pension funds with 11 Regional Rural Banks (RRBs) from the East Zone and Kolkata-based Bandhan Bank having surpassed their pension fund targets.
Basis this development, India’s pension fund regulator, Pension Fund Regulatory and Development Authority (PFRDA) has felicitated Kolkata-based Bandhan Bank and 11 Regional Rural Banks (RRBs) from the East Zone were felicitated for having surpassed their pension fund targets.
While Bandhan Bank, achieved 101% of its target, Jharkhand Rajya Gramin Bank led among the RRBs, achieved 393% of its annual target, followed by Tripura Gramin Bank- 351%, Odisha Gramya Bank- 154% and Assam Gramin Vikash Bank- 149%.
Similarly, Chhattisgarh Rajya Gramin Bank- 144%, Uttar Bihar Gramin Bank – 131%, Bangiya Gramin Vikash Bank– 131%, Utkal Grameen Bank- 121%, Manipur Rural Bank- 118%, Uttarbanga Kshetriya Gramin Bank- 118% and Dakshin Bihar Gramin Bank – 116%. Amongst Cooperative Banks, Mizoram Co-op Apex Bank achieved 125% of its target.
Felicitating these financial institutions for their outstanding performance and
for their partnering and engaging with Government of India’s big push to financial security and financial inclusion, the PFRDA recently organised a felicitation-cum-strategy review programme for the Atal Pension Yojana (APY) in Kolkata.
PFRDA honoured top- performing banks, RRBs and Cooperative Banks from the East 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 on the East 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 Ms. Mamta Shankar, Whole Time Member (Economics), and Shri Pravesh Kumar, Chief General Manager, PFRDA, along with senior representatives from participating banks and SLBCs/UTLBCs.
In FY 2024–25, new enrolments under Atal Pension Yojana 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. Eastern zone’s banks played a pivotal role, with Public Sector and Regional Rural Banks driving grassroots enrolments.
The SLBCs of the East Zone have played a pivotal role in the success of APY, with most states surpassing the annual targets for FY 2024-25. Jharkhand led the way with an outstanding 184% achievement, followed by Bihar (175%), Tripura (158%), West Bengal (148%), Assam (130%), Chhattisgarh (115%) and Odisha (111%).
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.