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.
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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