Beneficiaries of this scheme will come under the purview of Atal Pension Yojana, know full details
Pension fund regulatory and development authority (PFRDA) Chairman S. Raman said on Monday that our target is to bring the beneficiaries of our 50 lakh PM Swanidhi Yojana under Atal Pension Yojana. On June 1, 2020, the government launched a small amount loan scheme PM Swanidhi Yojana for street vendors. Under this scheme under the Ministry of Housing and Urban Affairs, the eligible street vendors are given loans of up to Rs 50,000 in installments without any bail/guarantee. This loan is provided in three installments.
82 percent people who took first installment returned loan money to banks
Under the scheme, a loan of Rs 10,000 is given in the first installment. The second installment is Rs 20,000 on returning the first installment. The third installment is Rs 50,000 on returning the second installment amount. Raman said at the Atal Pension Yojana (APY) annual honor ceremony, “We will have to reach the PM self -reliant beneficiaries. PM Swanidhi is one of the biggest success stories of our country. ”He said that 82 percent of the people who took the first installment of loan under PM self -reliant repaid the bank and 80 percent of those 80 percent people contacted the bank to take the next installment.
Atal Pension Yojana started on 9 May 2015
Raman said, “We have developed a credit society, it is a very good area and we have to ensure that the Atal Pension Yojana should benefit more than 50 lakh people who are now associated with the PM Swanidhi Yojana and this number is increasing.” Atal Pension Yojana was started as a social security scheme on 9 May 2015. Taxpayers are not eligible to join APYs from October 1, 2022.
Under Atal Pension Scheme
Under the Atal Pension Yojana, the shareholder receives guaranteed pension from Rs 1000 to Rs 5000 every month from the age of 60 to Rs 1454 to Rs 1454. After the death of the shareholder, this pension is given to his spouse and the pension amount deposited by the age of 60 is also returned to the nominee.
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