<h1>PFRDA Honors 21 Banks as 'Makers of Excellence' for Boosting Atal Pension Yojana Enrollment Among Economically Disadvantaged.</h1> The Pension Fund Regulatory and Development Authority (PFRDA) recognized 21 banks as 'Makers of Excellence' for their efforts in promoting the Atal Pension Yojana (APY), a government initiative launched in May 2015 to provide pension coverage to the economically disadvantaged in the unorganized sector. During a campaign in December 2017, these banks collectively sourced nearly 600,000 APY accounts. The scheme, operational since June 2015, offers a guaranteed monthly pension ranging from Rs. 1,000 to Rs. 5,000 from age 60, with benefits extending to the subscriber's spouse. As of mid-February 2018, APY subscribers exceeded 8.6 million.