# Banking Awareness Set 23 (Atal Pension Yojana)

This set contains banking awareness questions for various upcoming exams like SBI PO, IBPS PO, Clerk, NIACL Assistant and various other competitive exams. This set contains questions from the topic: Atal Pension Yojana (APY)

1. Atal Pension Yojana is a type of ____?
A) Guaranteed Pension Scheme
B) Self Invested Personal Pension (SIPP)
C) Additional Voluntary Contributions (AVC) Scheme
D) All of the above
Option A

A) LIC
B) GIC Re
C) PFRDA
D) IRDAI

Â  Option C
Explanation
: APY is a guaranteed pension scheme of Government of India and is administered by the Pension Fund Regulatory and Development Authority

1. Where is the headquarter of PFRDA?
A) Mumbai
B) New Delhi
C) Lucknow
D) Kolkata
Option B
Explanation
: New Delhi
2. What is the minimum joining age for Atal Pension Yojana?
A) 10 years
B) 18 years
C) 20 years
D) 21 years
Option B
Explanation
: 18 years
3. What is the maximum joining age for Atal Pension Yojana?
A) 40 years
B) 55 years
C) 60 years
D) 70 years
Option A
Explanation
: The maximum age limit is 40 years
4. What is the minimum pension benefit under APY?
A) Rs 1,000
B) Rs 2,000
C) Rs 3,000
D) Rs 5,000
Option A
Explanation
: Rs 1,000 per month after the age of 60.
5. What is the maximum pension benefit under APY?
A) Rs 3,000
B) Rs 4,000
C) Rs 5,000
D) Rs 10,000
Option C
Explanation
: Rs 5,000 per month after the age of 60.
6. Find the false statement with respect to Atal Pension Yojana
A) The contribution amount increases with the age of subscriber
B) Monthly Quarterly and half-yearly mode of contribution is available for subscribers.
C) NRI can apply for Atal Pension Yojana
D) All are true
Option C
Explanation
: NRI cannot apply for APY
7. What is the tax benefit under Atal Pension Yojana?
A) Rs 10,000
B) Rs 50,000
C) Rs 1,00,000
D) Rs 2,00,000
Option B
Explanation
: The tax benefits include the additional deduction of Rs 50,000 under section 80CCD(1). Initially there was no such benefit.
8. Which of the following is necessary to apply for Atal Pension Yojana?
B) Saving Bank Account
C) Kisan Credit Card
D) Both A and B
Option B

## 7 Thoughts to “Banking Awareness Set 23 (Atal Pension Yojana)”

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