New Delhi. Pension fund regulator PFRDA has made the paperless on-boarding process easier. Now getting on board without paper in any government scheme will be easier than before. Giving information about this, PFRDA said that documents can be submitted through Central KYC (CKYC) of the government to join its scheme.
On completion of 75 years of the country’s independence, under the Amrit Mahotsav of Independence, PFRDA is emphasizing on digitization of its services. Taking a similar initiative, PFRDA said that another option has been given to the potential subscribers to open NPS account through CKYC which is online and paperless.
Freedom from the hassle of repeated KYC
The facility of CKYC has been started on the initiative of the Central Government, which will save the customers from the hassle of getting KYC done again and again to avail the services of financial sectors coming under different regulators. Now you will not need to get KYC done before availing any financial service. For this, CKYC has to be done only once.
Digital onboarding facility
Taking the initiative of digital facilities, the Pension Fund Regulatory and Development Authority (PFRDA) is already providing a variety of services. This includes the facility of digital onboarding for your pension plans under the National Pension System (NPS) through documents issued through DigiLocker, Aadhaar eKYC, PAN or bank account information, etc.
Process will be easy for users
CKYC launched by PFRDA is managed by the Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI). It is the authorized entity of the Central Government to act as the Central KYC Registry (CKYCR). PFRDA says that the objective of CKYCR is to simplify the process of opening accounts with financial service providers. This will help investors save the hassle of preparing KYC documents and verifying them every time.
