PFRDA makes NPS account opening paperless if opened via Aadhaar
8 years, 3 months ago

PFRDA makes NPS account opening paperless if opened via Aadhaar

India TV News  

In effort to simplify the process, Pension Fund Regulatory and Development Authority has taken a big step to make NPS account opening completely paperless. “It has now been decided…that in case the Point-of Presence integrate the e-Sign…within their applications for online account opening for NPS, the requirement of sending the physical application form to the Central Record keeping Agency by the subscribers/PoPs shall be dispensed with,” it said in a circular. PFRDA further said that PoPs would be allowed to charge a maximum of Rs 5 plus service tax and cess per application for the e-signature service being provided to the subscribers. “With the application of the eSign facility, a large number of the subscriber having Aadhaar number will be able to open NPS account without any physical document requirement,” the regulator said.

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History of this topic

Over 70 lakh ration card holders yet to undertake e-KYC verification
1 month, 2 weeks ago

Over 70 lakh ration card holders yet to undertake e-KYC verification

The Hindu  

Over 70 lakh ration cardholder-beneficiaries falling under the National Food Security Act in the State have not yet been covered for e-KYC verification. A circular issued by the Director of Civil Supplies and Consumer Protection D. Mohan to District Collectors and his departmental officers in the first week of February stated that the Union government had fixed March 31 as …

EPFO introduces self-service features for seamless fund transfers
2 months, 2 weeks ago

EPFO introduces self-service features for seamless fund transfers

India Today  

The Employees’ Provident Fund Organisation has implemented features of improving ease of access for its 7.6 crore members. Those who hold an e-KYC EPF account can now fill out an EPF transfer claim online, using their Aadhar OTA without needing assistance from any employer. Private information such as the name and the date of birth can be altered online without …

Do you want to exit National Pension Scheme? Follow these steps
2 years, 1 month ago

Do you want to exit National Pension Scheme? Follow these steps

Hindustan Times  

The Pension Fund Regulatory and Development Authority, the regulatory body which oversees the regulation of pensions in India, has announced making it mandatory to submit know your customer documents for seamless exit and annuity of the National Pension Scheme subscriber. In a statement, the PFRDA said in collaboration with Insurance Regulatory and Development Authority of India had simplified the process …

PFRDA makes mandatory upload of withdrawal/ KYC documents to exit from NPS
2 years, 1 month ago

PFRDA makes mandatory upload of withdrawal/ KYC documents to exit from NPS

Live Mint  

The Pension Fund Regulatory & Development Authority has made the mandatory upload of withdrawal/ KYC documents to enable seamless processing of exit and annuity for the benefit of National Pension System subscribers. NPS withdrawal documents According to PFRDA, the NPS subscribers and the associated nodal officers/POPs/ corporate need to ensure that the following documents uploaded in the respective CRA user …

NPS Accounts Can be Opened Easily Now by Scanning QR Code at Bank of India; See How
2 years, 8 months ago

NPS Accounts Can be Opened Easily Now by Scanning QR Code at Bank of India; See How

News 18  

Public sector lender Bank of India has launched a brand new service, which will simplify the process for opening an NPS account for customers. Bank of India, along with pension fund regulator PFRDA, has launched a digital platform that will allow customers to open NPS accounts using mobile phones. The PFRDA and Bank of India said that the lender’s customers …

Customers can now subscribe to Atal Pension Yojana via Aadhaar eKYC: PFRDA
3 years, 5 months ago

Customers can now subscribe to Atal Pension Yojana via Aadhaar eKYC: PFRDA

The Hindu  

To expand its subscriber base and simplify the on-boarding process further, pension fund regulator PFRDA has now allowed Aadhaar eKYC as an additional option to add customers under its flagship pension scheme Atal Pension Yojana. "Now in order to further increase the outreach and simplify the process of subscription, CRA would be providing digital on-boarding based through Aadhaar eKYC as …

Good news for National Pension System and Atal Pension Yojana subscribers: PFRDA to begin e-KYC services
4 years, 1 month ago

Good news for National Pension System and Atal Pension Yojana subscribers: PFRDA to begin e-KYC services

India TV News  

The Pension Fund Regulatory and Development Authority will soon begin undertaking e-KYC services for National Pension System and Atal Pension Yojana subscribers. National Pension System and Atal Pension Yojana are the two flagship schemes of the PFRDA. PFRDA said it has enabled various digital enablers such as OTP-based authentication, paperless on-boarding, e-sign-based authentication, video customer identification to facilitate remote on-boarding, …

NPS account opening gets cheaper with e-PRAN card
4 years, 8 months ago

NPS account opening gets cheaper with e-PRAN card

Live Mint  

National Pension System subscribers can now opt for e-PRAN card at cheaper rates. the account opening charges payable to Central Record keeping Agencies, it has now been decided that a subscriber may, either opt for physical PRAN card or e-PRAN along with the option to receive welcome kit as well, either physically or through email," PFRDA said in a circular. …

NPS account opening becomes easier with OTP-based authentication. How to use it
4 years, 9 months ago

NPS account opening becomes easier with OTP-based authentication. How to use it

Live Mint  

Opening a National Pension System account has become easier than ever. The Pension Fund Regulatory and Development Authority has announced that the subscribers can open their new NPS accounts through one-time password based authentication process. It has also permitted Aadhaar-based offline paperless KYC process for the new customers while opening a NPS account. Here's how subscribers can open a NPS …

eKYC, Digital KYC for opening bank accounts to make process secure: UIDAI
5 years, 7 months ago

eKYC, Digital KYC for opening bank accounts to make process secure: UIDAI

Live Mint  

The recent amendments to anti-money laundering rules allowing voluntary use of Aadhaar for opening of bank accounts and the modalities of digital KYC for cases where verification is done using other documents like voter ID and driving licence will make the process secure and convenient for users, UIDAI CEO said on Wednesday. The government, last week, had notified amendments to …

Banks can use Aadhaar for KYC verification with customer's consent: RBI
5 years, 10 months ago

Banks can use Aadhaar for KYC verification with customer's consent: RBI

Firstpost  

Mumbai: Banks can use Aadhaar for KYC verification with the customer’s consent, the Reserve Bank said Wednesday as it updated its list of documents eligible for identification of individuals. “Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose,” the central bank said in its amended Master Direction …

Banks can use Aadhaar for KYC with customer's consent: RBI
5 years, 10 months ago

Banks can use Aadhaar for KYC with customer's consent: RBI

India TV News  

Banks can use Aadhaar for KYC verification with the customer's consent, the Reserve Bank said Wednesday as it updated its list of documents eligible for identification of individuals. "Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose," the central bank said in its amended Master Direction on …

Pension fund regulator makes bank account, mobile number mandatory for NPS subscribers
6 years, 11 months ago

Pension fund regulator makes bank account, mobile number mandatory for NPS subscribers

Live Mint  

New Delhi: Pension fund regulator PFRDA has made bank account details and mobile number mandatory for subscribers of national pension scheme, the finance ministry said on Friday. Further, in compliance with the Prevention of Money Laundering Act guidelines, the Pension Fund Regulatory and Development Authority has also made Foreign Account Tax Compliance Act and Central Registry of Securitization Asset Reconstruction …

The importance of e-KYC and e-Sign for PaperLess India
8 years, 5 months ago

The importance of e-KYC and e-Sign for PaperLess India

Live Mint  

Should you, as a consumer, care about paperless financial services? There are compelling reasons for both consumers and the industry to enable paperless financial products. So not only do consumers spend less on these financial products, the financial industry also reduces non-performing assets and cuts costs. Addressing this will require a holistic approach on the part of the financial regulators …

Aadhaar cards mandatory for PF transactions
12 years, 2 months ago

Aadhaar cards mandatory for PF transactions

The Hindu  

Salaried employees in organised sector will have to provide their Aadhaar numbers for seeking benefits under the EPF scheme being operated by retirement fund body Employees’ Provident Fund Organisation. However for existing members, the seeding of Aadhaar number has to done in a time bound manner,” an official order to the field staff said. Earlier, EPFO had envisaged replacing its …

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