India’s cooperative banking sector has emerged as a major force in expanding social security coverage across rural and semi-urban India, with several cooperative banks delivering outstanding performances under the Atal Pension Yojana (APY) during FY 2025-26.
The achievements were recognised at the APY Annual Felicitation Programme 2026 organised by the Pension Fund Regulatory and Development Authority (PFRDA) in New Delhi on Wednesday.
The event highlighted the growing contribution of cooperative institutions in strengthening India’s pension and financial inclusion ecosystem, particularly among farmers, labourers, self-employed workers and people associated with the informal economy.
Cooperative banks, with their deep rural presence and community-level engagement, emerged among the top-performing institutions in APY enrolments and awareness generation.
Among the leading cooperative institutions, Shri Mahila Sewa Sahakari Bank topped the category with an impressive 242% achievement against its annual target.
Andhra Pradesh State Cooperative Bank Ltd. (APCOB) followed with 175% achievement, while South Canara District Central Cooperative Bank recorded 168%. Strong performances were also registered by Balaghat District Central Cooperative Bank with 149% achievement and Sabarkantha District Central Cooperative Bank with 130%.
The remarkable performance of cooperative banks comes at a time when APY has crossed major national milestones. According to PFRDA, the scheme’s total gross enrolments crossed 9.10 crore as of May 18, 2026, while Assets Under Management (AUM) exceeded Rs 54,000 crore. During FY 2025-26 alone, APY added a record 1.35 crore new subscribers, making it the highest annual enrolment since the scheme’s launch.
Addressing the programme, M. Nagaraju, Secretary, Department of Financial Services, appreciated the role of banks, SLBCs and PFRDA in expanding social security coverage across the country. He stressed the importance of financial literacy, subscriber retention and deeper outreach in the informal sector.
S. Ramann, Chairperson, PFRDA, said APY witnessed its highest-ever enrolment during FY 2025-26, with increasing participation from the 18–25 age group.
Smt. Mamta Shankar, Whole Time Member (Economics), PFRDA, highlighted the strong momentum achieved under APY during FY 2025-26 and noted that women’s participation under the scheme reached a record 55.14%, reflecting growing awareness and inclusion.
The strong showing by cooperative banks under APY demonstrates how the sector is evolving beyond traditional banking activities and becoming a key pillar in delivering social security and financial inclusion at the grassroots level.
