Bank Employees News: PFRDA

Tuesday, 30 August 2016

18th Meeting of the FSDC Sub-Committee held in Mumbai

18th Meeting of the FSDC Sub-Committee held in Mumbai

A meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC) was held today in Mumbai. Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, chaired the meeting. The meeting was attended by the members of the Sub-Committee - Shri Ashok Lavasa, Finance Secretary, Shri T. S. Vijayan, Chairman, Insurance Regulatory and Development Authority of India (IRDAI), Shri Hemant G. Contractor, Chairman, Pension Funds Regulatory and Development Authority (PFRDA), Deputy Governors of the Reserve Bank, Dr. Urjit Patel and Shri N. S. Vishwanathan, Shri Ajay Tyagi, Additional Secretary, Ministry of Finance and Shri Deepak Mohanty, Executive Director of the Reserve Bank and Member Secretary of the Sub-Committee. SEBI was represented by Shri Rajeev Kumar Agarwal, Whole Time Member. Executive Directors of the Reserve Bank as well as other officials from the Reserve Bank and the Ministry of Finance also attended the meeting.

The Sub-Committee reviewed the major developments on the global and domestic fronts that impinge on the financial stability of the country. Reports of the FSB Peer Review of India and the Working Group on Development of Corporate Bond Market in India, issues regarding the proposed Bill on setting up of a statutory Financial Data Management Centre (FDMC), Minimum Assured Return Scheme under the National Pension System (NPS) and regulation of spot exchanges were the other topics discussed during the meeting.

The meeting also reviewed the functioning of the State Level Co-ordination Committees (SLCCs) in various States/ Union Territories, the activities of the various Technical Groups of the Sub-Committee and the progress achieved on the decisions/ recommendations emanating from the earlier meetings of the Sub-Committee.

Alpana Killawala

Principal Adviser

Press Release : 2016-2017/528

Source:Reserve Bank Of India

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Monday, 18 July 2016

PFRDA 21:49

National Pension System Mobile App-NPS App

National Pension System Mobile App-NPS App

Pension Fund Regulatory and Development Authority (PFRDA) has introduced new features for

the benefit of National Pension System (NPS) subscribers, including an mobile app.

According to the statement, through the mobile app, ‘NPS by NSDL e-Gov’, subscribers can raise a request for transaction statement for a particular financial year that will be sent to the registered mail ID at end of the day.

Now, the NPS subscribers can view his/her NPS account, latest details of scheme wise units along with latest NAV and the total value of the schemes, details of the last five contributions credited, can change contact details (Telephone/Mobile no/Email ID), change password/security Question add/modify his/her password and set security question (for password reset) through Mobile App, it added.

×The subscribers also can now update/modify their address on their own using Aadhaar based authentication.

The statement said a subscriber whose bank has not confirmed (rejected) his/her KYC verification request can now update the address details and confirm KYC using Aadhaar based authentication.

Besides, the eNPS subscribers can now access the Central Recordkeeping Agency (CRA) system immediately after registering without waiting for physical I-PIN to be dispatched.

Currently, NPS has over 1.13 crore subscribers with total asset under management of more than Rs 1.08 lakh crore.

PFRDA is mandated to promote old-age income security and has been entrusted with the responsibility to regulate, promote and ensure orderly growth of NPS and other pension schemes not regulated under any other enactment.

Mobile app is now available in Google Play store.

Source:Indian Bank Kumar

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