QR Code Payment: PFRDA has decided to make investing in NPS account even easier. With the introduction of this new facility of digital payment, NPS payments can be made in a more convenient way.
QR Code Payment: The government is constantly trying to make the National Pension System convenient. After the success of QR code payment, now the government has decided to bring it in the NPS system. Investors will now be able to put money in the NPS fund through Quick Response Code (QR Code).
QR codes can also be created offline
According to the Pension Fund Regulatory and Development Authority (PFRDA), after the facility of payment through QR code is introduced, now people will be able to easily put money in their NPS account sitting at home. These QR codes can also be created offline in Tier-1 and 2 accounts so that payments can be made from them in future.
PFRDA wants to add more and more people
PFRDA wants to add more and more people to NPS. Digital payment has played a great role in this scheme. Therefore, with the facility of payment through QR code for digital payment, investors will get more ease.
Retirement savings can be easily controlled
Protein eGov Technologies Limited (NSDL E Governance Infrastructure Limited) Group Head (Social Security and Welfare) Amit Sinha said that providing payment facility through QR code is an encouraging step. This will make it easier to transfer money to NPS. With this initiative of PFRDA, those running NPS accounts will be able to easily control their retirement savings. They will also be able to increase their capital.
Rs 2700 crore came to NPS from D-Remit / Virtual ID
At present, NPS subscribers are able to make payments using D-Remit facility from their bank account. D-Remit ID is of 15 digits. It has to be added to the beneficiary of the bank account using internet banking. After this, money can be transferred from savings bank account to NPS account. According to PFRDA, about 10 lakh D-Remit IDs have been created so far. About Rs 2700 crore has come into NPS from these IDs. If the bank gets D-Remit by 9.30 am on a working day, then it invests it in the NPS account on the same day.
To use the facility, D-Remit/Virtual ID will have to be created
Now D-Remit can be created through QR code as well. However, the facility of investment through QR code will be available only to those who have D-Remit/Virtual ID.
