Which authority regulates the Atal Pension Yojana?

Explanation

Atal Pension Yojana is linked to India’s pension-regulation architecture, so the relevant authority is PFRDA, not a banking, securities, or insurance regulator. APY is regulated by PFRDA under the Ministry of Finance. The official PFRDA APY page supports this by describing APY as a Government of India pension scheme and stating that it is administered by the Pension Fund Regulatory and Development Authority under the overall administrative and institutional architecture of the National Pension System. That is why PFRDA is the exam-relevant answer: APY is a pension scheme, and PFRDA is the specialised authority for that pension-system framework.

Why the other options are wrong

• (A) RBI regulates the banking system, but APY is administered by PFRDA, not the central bank.
• (B) SEBI regulates the securities market, whereas APY is a pension scheme administered under the PFRDA-led National Pension System framework.
• (C) IRDAI is the insurance regulator, but APY belongs to the PFRDA-administered pension framework.

Concept

This tests institutional mapping within governance schemes: matching a welfare or social-security scheme to its correct regulator. RAS repeatedly asks such questions because authority-scheme linkage is a core part of administrative awareness.

Source

• Pension Fund Regulatory and Development Authority

Related questions

• A bill to amend the Constitution can be introduced:
• A bill under Article 3 for the formation of a new State requires:
• A CAG audit of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) revealed that what percentage of beneficiaries had blank, zero, Null or N/A bank-account details?
• A Financial Emergency under Article 360 must be approved by Parliament within:
• A joint sitting of both Houses of Parliament can be summoned under which Article?
• A joint sitting of both Houses of Parliament under Article 108 can be called to resolve a deadlock on: