Good news for people willing to join the Atal Pension Yojana (APY). Now they don’t need to visit their bank or any post office to subscribe to it. “APY is available on eNPS platform & any eligible Indian citizen can enroll through APY@eNPS channel by visiting http://www.enps.nsdl.com,” the Finance Ministry tweeted today.
In fact, the Pension Fund Regulatory and Development Authority (PFRDA) has developed a process to offer APY enrolment through the eNPS platform for a wider reach. Under this channel, a complete end-to-end digital environment for subscription is enabled without submission of any physical form by the customer. The customer, thus, need not visit the bank or post office now.
So far APY was available for subscription through banks, BCs and through internet banking. Now, APY is available on the eNPS platform. The customers of the bank can visit the eNPS portal and submit Aadhaar/ bank name and savings bank account number to join the scheme. The benefits of APY@eNPS are:
# Paperless registration
# No need for visiting Bank Branch.
# Online enrollment can be made 24*7 at the customer’s convenience.
# No need for having internet banking ID.
Punjab National Bank is the first nank to operationalize APY@eNPS and quite a few other banks are expected to launch this platform shortly offering Aadhaar-enabled APY enrollment.
Any person in the age group of 18 to 40 years with a savings bank account and Aadhaar can register for APY by providing the minimum information in the APY@eNPS portal as rest of the information will be auto populated from the respective bank. This new feature not only makes it easy for the subscriber to join the APY, but also reduces the workload for banks/postal branches which are implementing the APY.