PFRDA notified the Point of Presence (PoP) Regulations 2023, simplifying the registration process with the objectives of ease of doing business and greater usage of digital mode.
Reetu | Jan 17, 2024 |
PFRDA notifies Point of Presence Regulations requiring only one registration for National Pension System
The Pension Fund Regulatory and Development Authority (PFRDA) notified the Point of Presence (PoP) Regulations 2023, simplifying the registration process for the National Pension System with the objectives of ease of doing business and greater usage of digital mode.
With this notification, banks and non-banks can serve as PoPs to onboard NPS users. They now just need one registration for NPS, as opposed to several registrations in the past, and can operate with a single branch with a larger digital presence. The 60-day deadline for disposing of applications has been cut to 30.
The following simplification is consistent with the Union Budget 2023-24 announcement to review rules in order to minimise compliance costs and improve the ease of doing business.
For Official Notification Download PDF Given Below:
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