Pension Fund and Regulatory Authority of India has suggested that the government should release quickly the commission money for bank correspondents endorsing products under Atal Pension Yojana as it will act as an incentive for them.
"The incentive is paid by the government. Only when we get the funds from the government, we can release it further. Currently, the government releases the funds in about 3-4 months. The banks have been requesting that it should be paid every quarter," Pension Fund and Regulatory Authority of India (PFRDA) Chairman Hemant G Contractor said today.