The Bank of India, Launched a Mobile platform in Collaboration with the PFRDA

On Friday, the Bank of India and the pension fund regulator PFRDA launched a digital platform that will allow customers to open NPS accounts using mobile phones. In collaboration with K-fintech, the Pension Fund Regulatory and Development Authority (PFRDA) and Bank of India launched the digital platform for NPS enrolment.

Customers can now open an NPS (National Pension System) account by scanning a QR code, according to a joint release from PFRDA and Bank of India. Scanning the QR code will take you to the NPS account opening web page, where you will need to enter your Aadhaar number to get your picture and other details from DigiLocker.

Supratim Bandhyopadhyay, chairman of the PFRDA, inaugurated the digital platform in the presence of A K Das, MD & CEO of Bank of India, and Swarup Dasgupta, executive director of the bank. The digital account opening process is simple, fast, and completely paperless, allowing customers to open a new account in just a few clicks. According to the release, new subscribers can also make additional contributions via QR code.

"I believe that this digital initiative by the bank will complement our efforts in a dynamic way in realising our vision of a pensioned society," Bandyopadhyay said.