INSUBCONTINENT EXCLUSIVE:
NPS has witnessed strong double digit growth in new subscriber registrations.New Delhi: Kotak Mahindra Bank on Friday announced that it has
launched the National Pension System (NPS) on its mobile banking platform
is available for both iOS and Android users.The private lender said that the process is completely paperless and the account can be opened
instantly with just a few clicks
"Existing NPS subscribers can also make additional contributions through the Kotak mobile banking app as well as view details of their
account including total invested amount, total gain/loss and returns generated," Kotak added.Shanti Ekambaram, Group President - Consumer
Banking, Kotak Mahindra Bank said, "NPS on Mobile is another step in that direction
The NPS scheme offers a number of benefits to subscribers to help build a secure future for themselves and their loved ones and we believe
It gives us immense pleasure to announce that Kotak Mahindra Bank has integrated NPS on-boarding in their Mobile Banking app and this
service would be available not only to new NPS subscribers who can open an account on the Kotak app, but also to existing subscribers who
can now access their NPS account details seamlessly."Kotak said that its users can open the account in five quick steps once they login to
the bank's mobile banking app:1) Click on the 'National Pension System (NPS)' icon under 'Invest' or under 'Apply Now';2) Enter investment
Regulatory and Development Authority (PFRDA) observed 'NPS Diwas' today to raise awareness about pension and retirement planning.Regulated
by the PFRDA, NPS has been gaining popularity and over the last five years has witnessed strong double digit growth in new subscriber
registrations.NPS is a low-cost, tax-efficient voluntary retirement plan wherein a subscriber contributes towards accumulation of a
