- Atal Pension Yojana
Focus: GS III- Growth and Development
Why in News?
On the occasion of the 75th anniversary of Indian Independence & ongoing Azadi ka Amrit Mahotasav, India Post Payments Bank (IPPB), a 100% government owned entity under Department of Posts (DoP) announced the launch of Fincluvation.
- A joint initiative to collaborate with Fintech Startup community to co-create and innovate solutions for financial inclusion.
- It will be a permanent platform of IPPB to co-create inclusive financial solutions with participating start-ups.
- It will allow the start-ups to work with IPPB and DoP experts to develop solutions and conduct pilots using the postal network and IPPB’s technology stack. Successful pilots can then mature into long-term partnerships.
- Fincluvation mentors will work closely with the startups to tweak products to the customer needs and align the go-to-market strategies with operating models of IPPB and DoP.
Click Here To Read More: Fincluvation.
Focus: GS-II Social Justice
Why in News?
The total enrollments under APY Scheme have crossed 4.01 crore as on March 2022 out of which more than 99 lakh APY accounts were opened during FY 2021-22.
- The scheme had seen this tremendous success due to the active participation of all categories of Banks.
- Around 71% of the enrolments done by Public-sector banks, 19% by Regional Rural Banks, 6% by Private Sector Banks, 3% by Payment and Small Finance Banks.
Click Here To Read More: Atal Pension Yojana