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PFRDA Inaugurates Zerodha Developed NPS Web App for Financial Inclusion

Published on March 13, 2024
Current Context: The Pension Fund Regulatory and Development Authority (PFRDA) has inaugurated a web application developed by Zerodha Broking Limited.
PFRDA Inaugurates Zerodha Developed NPS Web App for Financial Inclusion
  • This application is designed to provide easy access to the National Pension System (NPS) for subscribers.
  • The aim is to foster innovation and inclusivity within the NPS architecture, particularly through its engagement of fintech entities as Point of Presence (PoP), thus enhancing accessibility and convenience.
  • The app offers seamless access to NPS to a wider subscriber base.
  • PFRDA Chairperson, Shri Deepak Mohanty, stated that there is merit in joining NPS at a young age to harness the benefits of compounding.
  • NPS provides continuity to a retirement savings account irrespective of one’s employment status and is available for non-resident Indians (NRIs).
  • As youngsters are tech-savvy, the facilitation by Zerodha Broking Limited is expected to expand access to NPS.

Question:

Q.1 Who developed the web application for easy access to the National Pension System (NPS)?
a. Pension Fund Regulatory and Development Authority (PFRDA)
b. Shri Deepak Mohanty
c. Zerodha Broking Limited
d. Point of Presence (PoP)
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