Video-based customer KYC NPS Account Opening & Withdrawal

Video-based customer KYC NPS Account Opening & Withdrawal

Finances News

NPS account can be open and money can be withdrawn with video-based customer KYC. PFRDA – Pension fund regulatory development authority has launched a video-based KYC facility in Oct 2020. PFRDA always works on the initiatives which are subscriber friendly. Before video-based customer KYC, PFRDA has already introduced various other facilities such as eSign/OTP, Offline Aadhaar based KYC, Paperless-on-boarding, eNPS, e Nomination, etc. Now, all the intermediaries and NPS POP can use a video-based customer identification process (VCIP) to onboard, withdrawal, and exit of NPS Subscribers. There are many banks and financial institutions & mutual fund house who are already