Laws and sections by number or title, due dates, pages, and updates.
The Pension Fund Regulatory and Development Authority amends the sharing ratio of incentives between Atal Pension Yojana Service Providers and their intermediaries. All APY Service Providers remove the fifty-fifty ratio for incentive sharing. APY Service Providers design their own sharing pattern with Banking Correspondents, Micro Finance Institutions, and Non Bank Aggregators. The remaining contents of the earlier circular remain unchanged.
What you must do
Who is affected
Ask about this circular
[Image omitted. See the official document.]
पेंशन निधि विनियामक और विकास प्राधिकरण बी-14/ए, छत्रपति शिवाजी भवन, कुतुब इंस्टिट्यूशनल एरिया, कटवारिया सराय, नई दिल्ली-110016 दूरभाष : 011-26517503 फैक्स : 011-26517507 वेबसाइट : www.pfrda.org.in
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY B-14/A, Chhatrapati Shivaji Bhawan Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Phone : 011-26517503 Fax : 011-26517507 Website : www.pfrda.org.in
PFRDA/4/CRA/62
$27^{\text{th}}$ April 2016
To
All APY Service Providers
(Public Sector Banks, Private Banks, Regional Rural Banks, Co-operative Banks (SCBs, DCCBs, Urban and Rural) and Department of Post)
In partial modification to our circular No PFRDA/APY/4/62 dated $19^{\text{th}}$ May, 2016 it is here by mentioned that Point No 2 para 3
"As Banks are expected to engage the Banking Correspondents (BCs) / Micro Finance Institutions (MFIs) / Non Bank Aggregators to mobilize the subschiers, they can share the incentives with such BCs/ MFIs/ Non Bank Aggregators etc in the ratio 50:50 :: Banks : BCs/ MFIs/ Non Bank Aggregators"
stands modified and to be read as below:
The sharing ratio of incentive between APY Service Providers (Banks and DoP) and the Banking Correspondents (BCs) / Micro Finance Institutions (MFIs) / Non Bank Aggregators of 50:50 has been amended. APY Service Providers may devise their own sharing pattern.
The rest of the contents of the circular remains unchanged.
This issues with the approval of the competent authority.
Yours Scincerly [Image omitted. See the official document.]
K Mohan Gandhi (Dy. General Manager)
Copy to : Director (PR), DFS, MoF
