NRIs can join NPS online with Aadhaar or PAN card
Q. NRIs can join NPS online using which of the following:- Published on 20 Jun 16a. Aadhaar card
b. PAN card
c. Neither a nor b
d. Both a and b
ANSWER: Both a and b
Non Resident Indians can now open National Pension Savings Account if one had Aadhaar or PAN card. NRIs can open NPS accounts online now. They earlier could only open NPS accounts through paper applications by approaching bank offices. Via eNPS, subscribers will open an NPS account from their home. All that is needed is an internet connection and PAN or Aadhaar card. NRIs can open NPS accounts on both repatriable and non-repatriable basis.
- On repatriable basis, NRI will have to remit the amount though NRE/FCNR/NRO account
- For non repatriable scheme, NRIs will be able to join NPS through NRE/FCNR/NRO accounts at time of maturity or during partial withdrawal
- Both schemes are hoped to help NRIs return to India following employment abroad in view of attractive returns, low cost flexibility and regulation by PFRDA.
- India has the second largest diaspora in the world with 29 million people in 200 countries and 25 percent of these living in Gulf countries.
