Economics · Economy
Consider the following statements about penalty and default provisions under the Atal Pension Yojana (APY): 1. If a subscriber fails to make regular contributions, banks charge a specific small monthly penalty (e.g., ₹1 to ₹10 per month depending on the contribution amount). 2. In case of continuous default for 24 months, the account is closed immediately without any refund of past contributions. 3. Subscribers can reactivate a discontinued/frozen account by paying the outstanding contributions along with the late interest penalty. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 and 3 only✓
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1 and 3 only
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