QR Code Payment: The government is continuously making efforts 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 deposit money in NPS fund through Quick Response Code (QR Code).
QR codes can also be created offline
According to Pension Fund Regulatory and Development Authority (PFRDA), after the facility of payment through QR code, now people will be able to easily deposit 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 through them in future.
PFRDA wants to connect 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 introduction of the facility of payment through QR code for digital payment, it will become more convenient for the investors.
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Retirement savings can be easily controlled
Amit Sinha, Group Head (Social Security and Welfare) of Proteus eGov Technologies Limited (NSDL E Governance Infrastructure Limited) said that providing the facility of payment 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. You will also be able to increase your capital.
Rs 2700 crore came into NPS through de-remit/virtual ID
At present, NPS subscribers can make payments using the de-remit facility from their bank accounts. D-Remit ID is 15 digits long. It has to be added to the beneficiary of the bank account using internet banking. After this, money can be transferred from the savings bank account to the NPS account. According to PFRDA, around 10 lakh D-Remit IDs have been created so far. About Rs 2700 crore has come to NPS through these IDs. If the bank receives the de-remit by 9.30 am on a working day, then it invests it in the NPS account on the same day.
To avail the facility D-Remit/Virtual ID must be created
Now de-remits can also be made through QR code. However, the facility of investment through QR code will be available only to those whose de-remit/virtual ID has been created.
