PFRDA launches Bank of India’s UPI enabled platform for NPS

By Leandra Monteiro

Bank of India has given a significant boost to its commitment towards the National Pension System (NPS) by launching its digital mode for NPS enrollment in association with K-fintech. Customers can now open the NPS account on their mobile in a hassle-free & paperless manner, simply by scanning the QR code.

The new digital platform was inaugurated by Sh. Supratim Bandhyopadhyay, Chairman, Pension Fund Regulatory and Devlopment Authority (PFRDA) in presence of Sh. A K Das (MD & CEO) Bank of India, Sh. Swarup Dasgupta (Executive Director, Bank of India), Sh. M Karthikeyan (Executive Director, Bank of India), Ms Monika Kalia (Executive Director, Bank of India) who also joined the event virtually, from their Corporate Office at Mumbai.

The digital process of account opening is simple, fast and completely paperless making it easier for the customers to open the new account in just a few clicks. Further, new subscribers can also make additional contributions through QR code.

Speaking at the sidelines of the ocassion, Sh. Supratim Bandyopadhyay, Chairman, PFRDA said, “We are happy to announce that Bank of India has lauched its digital mode in association with K-fintech for new NPS registration. I believe that this digital initiative by the Bank will compliment our efforts in a dynamic way in realizing our vision of a pensioned society.”

Sh. A K Das, MD & CEO, Bank of India said, “The NPS scheme offers number of benefits to subscribers to enhance and secure their future. Through our techological integration with K-fintech, We have made the NPS subscription process easy, fast and hassle free for the customers.”  He further added that he firmly believes that this technological advancement will act as a impetus to help further in the growth of NPS accounts signifantly.”