Pension push: PFRDA eyes 50 lakh SVANidhi street vendors for APY, cites strong loan repayment record

PFRDA aims to enroll 5 million PM SVANidhi beneficiaries into the Atal Pension Yojana (APY), leveraging the scheme's success in providing micro-credit to street vendors. With high loan repayment rates observed, banks are actively offering subsequent tranches. APY, designed for the unorganized sector, continues to grow, adding over a crore subscribers annually, with a significant participation from women.