ICICI Bank intros Fully Paper-less and Digital Enrolment for National Pension System (NPS)

ICICI Bank, India’s largest private sector bank by consolidated assets, today announced the launch of a facility that enables customers to register in the National Pension System (NPS) in a completely online and paperless manner.

With this unique service, customers of the bank can register conveniently for NPS through their Internet banking account. This new facility improves customer’s convenience significantly as they are no longer required to visit a branch and submit physical documents to enroll for NPS.

In its endeavour to augment customer experience through digitisation of prominent investment products, ICICI Bank has worked closely with the ‘Pension Fund Regulatory and Development Authority’ (PFRDA) and the ‘NSDL e-Governance Infrastructure Ltd.’ the Central Record Keeping Agency, for the introduction of this facility.

AG Das, ED, Pension Fund Regulatory and Development Authority, said: “PFRDA is committed to providing new ways of enabling quicker and simpler ways of enrolling for the National Pension System (NPS). We are delighted to know that ICICI Bank has developed a completely digital and paperless facility for applying for NPS account. We believe this will offer significant convenience to the citizens of the country as they would not have to visit their bank branch for completing the formalities. This new service will definitely strengthen the Government's Digital India Mission.”

Anup Bagchi, executive director, ICICI Bank, said: “At ICICI Bank, our philosophy is ‘Ready For You. Ready For Tomorrow’, wherein we are committed to offer innovative products and services to our customers at the fastest possible speed and with the highest level of convenience. In line with this philosophy, we are delighted to have worked closely with the ‘Pension Fund Regulatory and Development Authority’ (PFRDA) and the ‘NSDL e-Governance Infrastructure Ltd.’ to create a fully digital and paperless procedure for convenient enrolment for NPS.  

"We believe that this new service has significantly enhanced customer experience by eliminating the need to visit a branch for enrolling into NPS. We foresee that this digital initiative will appeal to our customers, thereby leading to an increase in their investments towards securing their future.”