Karnataka Grameena Bank (KGB) has been honoured with an award from the Pension Fund Regulatory and Development Authority (PFRDA) for outstanding performance under the Atal Pension Yojana (APY). Against an enrolment target of 1,75,500 accounts, the bank achieved 2,49,185 APY enrolments, an achievement of 142%. APY is the Union government's pension scheme regulated by PFRDA, aimed mainly at workers in the unorganised sector. Regional rural banks such as KGB play a key role in extending such social-security schemes to rural customers.