What is central recordkeeping agency?
October 2003 to develop and regulate the Pension Funds under the NPS. PFRDA has appointed National Securities Depository Limited (NSDL) as the Central Record Keeping Agency (CRA) to maintain the records of contribution and its deployment in various pension fund schemes for the employees.
Who is the record keeping agency for NPS?
Presently, NSDL e-Governance Infrastructure Limited and KFin Technologies Private Limited have been appointed as Central Recordkeeping Agencies (CRAs) for National Pension System (NPS) by PFRDA.
What is NSDL CRA and KFintech CRA?
KFintech provides RTA service to mutual fund service, corporate registry, Central Recordkeeping Agency (CRA) for National Pension System (NPS), Global fund services, Global Business services etc. NSDL e-Governance Infrastructure Limited (NSDL e-Gov): Was initially set up as a depository in 1995.
What is NPS and CRA?
Introduction. The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the National Pension System-Lite (NPS-Lite) with effect from April 01, 2010. PFRDA has appointed NSDL e-Governance Infrastructure Limited as Central Recordkeeping Agency (CRA) for NPS – Lite.
Which CRA is good for NPS?
PFRDA has appointed NSDL and KARVY as Central Record Keeping Agency (CRA) for NPS. Both venture in India carries out the functions of record keeping, administration and customer Service for all subscribers under NPS.
What is choice of CRA?
Subject: Choice of CRA Selection by NPS subscribers. It has been decided that the subscribers under All Citizen Model, who were so far allowed to exercise the choice/change of CRAs only once in a financial year, will hitherto be allowed to exercise such choice twice in a financial year.
Is KFintech good for NPS?
KFintech CRA is one of the Premier financial service organisation aims for satisfaction of customers by combining knowledge & technology to provide the best standard of services under NPS.
Which is better NSDL or karvy for NPS Quora?
There are difference in charges between both KRAs. While Karvy charges lesser fee than NSDL for the management of NPS account, NSDL being the oldest CRA manages all accounts of Govt employees and APY accounts and hence has a user base much higher than what Karvy has.
What is NPS interest rate?
9% to 12% p.a.
The NPS interest rate usually ranges from 9% to 12% p.a. NPS contributions toward Tier I account are subject to income tax benefits.