Now, open NPS account through OTP – Details explained

Now, open NPS account through OTP – Details explained

PFRDA has already enabled the opening of online NPS Account in a paperless manner through e- signature. In order to further facilitate ease of NPS Account opening, the subscribers are now permitted to open their NPS account through One Time Password (OTP) also.

In this process, the customers of banks (registered as POPs- Points of Presence), who wish to open NPS Account through internet banking of the respective banks, can open NPS Accounts using OTP received on their registered mobile number.

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However, for the opening of NPS Accounts through non-internet banking digital mode, through POPs (Banks as well as Non – Bank POPs), OTP received on their registered mobile number and email can be used for paperless NPS Account opening.

Post completion of KYC, POPs have to submit the NPS Subscriber’s data/information to Central Record Keeping Agencies (CRAs) along with his photo and image of signature with an undertaking that the KYC/AML guidelines/rules have been duly complied with.

POPs and CRAs have been advised by PFRDA to provide……….Read More>>

 

Source:- techiyogiz

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