New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following statement is/are incorrect about

    “Atal Pension Yojana”? I.         The Atal Pension Yojana (APY) was launched to create a universal social security system for all Indians, especially the poor, underprivileged and workers in the unorganised sector II.         The scheme was launched on May 09, 2015, and was operationalised w.e.f. June 01, 2015. III.         APY is administered by LIC. IV.         Subscribers can make contributions to APY on a monthly basis only.
    A I and III only Correct Answer Incorrect Answer
    B III and IV only Correct Answer Incorrect Answer
    C II and III only Correct Answer Incorrect Answer
    D All of the above Correct Answer Incorrect Answer

    Solution

    Explanation: APY is administered by Pension Fund Regulatory and Development Authority (PFRDA) under the overall administrative and institutional architecture of the National Pension System (NPS). Subscribers can make contributions to APY on a monthly/quarterly/half-yearly basis.

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