NPS – Revision Fee for Banks / POP for KYC verification
Revision in Fee for Banks/POP for KYC verification for online subscriber registration under e-NPS.
Pension Fund Regulatory and Development Authority (PFRDA) has revised the fee for KYC.
PENSION FUND REGULATORY
AND DEVELOPMENT AUTHORITY
B-14/A, Chhatrapati Shivaji Bhawan
Qutab Institutional Area
Katwarla Sarai, New Delhi-110016
Date : 28th January, 2018
Subject : Revision in Fee for Banks/POP for KYC verification for online subscriber registration under e-NPS.
Please refer to Pension Fund Regulatory and Development Authority (PFRDA) letter No.PFRDA/20/CORP/20/3 dated December 15, 2015 regarding the Online Subscriber Registration process under NPS (henceforth, referred ase-NPS). As per the said facility, the subscriber can register online in NPS after two stage verification – online PAN verification by CRA and KYC authentication by the Banks in electronic form to the CRA. The Banks acting as POP were to be compensated @ Rs.100/- per subscriber for its KYC verification services.
2. It has now been decided by the Authority to increase the amount of compensation from the existing Rs,100/- per subscriber to Rs.125/- per subscriber for its KYC verification services.
3. All other terms and processes under e-NPS would be as per the above said letter.