Now customers will be able to open NPS account easily by scanning the QR code.
Bank of India launched digital platform in association with pension fund regulator.
NPS is a pension and investment scheme. It was started in 2004.
New Delhi. Bank of India has started a new service. This service will ease the process of opening an NPS account for the customers. Bank of India has launched a digital platform in association with Pension Fund Regulator (PFRDA).
This platform will help the customers to open NPS account using mobile phone. Through this platform, now customers will be able to open their NPS account easily by scanning the QR code. The Pension Fund Regulatory and Development Authority (PFRDA) and Bank of India in association with K-Fintech have launched this platform for NPS enrollment. The digital platform was inaugurated by Supratim Bandyopadhyay, Chairman, PFRDA, A.K., MD & CEO, Bank of India. Das and the bank’s executive director Swarup Dasgupta.
NPS membership process made easy
Das said that the technological integration of Bank of India with K-Fintech has made the NPS membership process easy, fast and hassle free. This will act as an impetus to further the growth of NPS. He expressed his happiness saying, “We are happy to announce that Bank of India has launched its digital mode for new NPS registration in association with K-Fintech. I am sure that this digital initiative of the Bank will dynamize and strengthen our efforts in realizing our vision of a pensionable society. Two Executive Directors of Bank of India Swaroop Dasgupta, M Karthikeyan and Monika Kalia were also present on the occasion.
How does this digital platform work?
PFRDA and Bank of India said that the lender’s customers will be able to open their NPS account by scanning the QR code. A joint release by PFRDA and Bank of India said that customers can now open NPS (National Pension System) account in a hassle-free and paperless manner by scanning the QR code.
Scanning the QR code will open the NPS account opening web page wherein the applicant has to provide his/her mobile number and apply for registration using OTP. After that, the applicant has to fill the Aadhaar number to get the picture and other details from Digilocker. When all the details are entered digitally, the NPS account will be opened.
What is National Pension System (NPS)
NPS is a pension and investment scheme launched by the government to provide old age security to the citizens of India. It was started in 2004. It is a government-run retirement savings option, which enables customers to contribute a monthly amount to draw out a regular income post retirement.
FIRST PUBLISHED : August 03, 2022, 18:41 IST