Efforts on to make NPS available at all bank branches, post offices: PFRDA Chairman

    Nidhi Khurana
    September28/ 2023

    New Delhi: PFRDA Chairman Deepak Mohanty has stated that the agency is trying to get the National Pension System (NPS) available at all bank branches and post offices. The goal is to make the NPS products more accessible to the public in order to enhance the penetration of pension systems. For the distribution of the NPS, Mohanty stated in an interview that the PFRDA has enlisted the help of Regional Rural Banks (RRBs) and banking correspondents, making it possible for people living in even the smallest towns and villages to receive the benefits of the plan. We're working to have the NPS available at all post offices and bank branches. The PFRDA (Pension Fund Regulatory and Development Authority) Chairman said, "We have also discussed this matter at the top management levels, but ultimately it is up to the banks to take a decision on this matter." Numerous financial institutions now offer NPS services. A total of 13 lakh new NPS subscribers, both corporate and individual, are a target, he added. Ten million new customers were added in the previous fiscal year.—inputs from ...

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