"Over 12.50 lakh subscribers have been enrolled under APY within about six months from its introduction,
"APY is a long-term savings product, with at least 20 years of financial commitment, where a subscriber has to analyse his capacity to contribute and match it with his own requirement of an adequate pension amount, depending on his age of entry into APY,"
Creating awareness through media, organising town-hall meetings in association with state governments and state-level bankers' committees, providing flexibility to subscribers to pay monthly, quarterly or half-yearly contribution under APY are among the measures taken, he said.
Besides, measures such as permitting voluntary premature exit before age 60 to APY subscribers and capacity building of enrollment agencies like officials of banks, post offices and business correspondents are also being taken
"APY is a long-term savings product, with at least 20 years of financial commitment, where a subscriber has to analyse his capacity to contribute and match it with his own requirement of an adequate pension amount, depending on his age of entry into APY,"
Creating awareness through media, organising town-hall meetings in association with state governments and state-level bankers' committees, providing flexibility to subscribers to pay monthly, quarterly or half-yearly contribution under APY are among the measures taken, he said.
Besides, measures such as permitting voluntary premature exit before age 60 to APY subscribers and capacity building of enrollment agencies like officials of banks, post offices and business correspondents are also being taken
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