December 2016 Current Affairs

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NRIs can now join NPS online through eNPS

NRIs can now join NPS online through eNPS
18 June 2016 Current Affairs: The Union Finance Ministry has announced that non-resident Indians (NRIs) can now open National Pension Savings (NPS) accounts online i.e. through eNPS if they have Aadhaar Card or Permanent Account Number (PAN) card. Earlier, NRIs could open NPS accounts only through paper based applications by approaching Bank offices.  NPS are being regulated by the PFRDA (Pension Fund Regulatory and Development Authority), a regulator established by the Finance Ministry.

Through eNPS, NRI’s will be able to open NPS accounts both on repatriable and on non-repatriable basis. The NPS funds would be deposited only in their NRO accounts On a repatriable basis, NRIs will have to remit the amount through his/her NRE/NRO/FCNR account. On a non-repatriable, NRIs will be able to join NPS through their NRE/FCNR/NRO accounts at the time of maturity or during partial withdrawal.

This move will greatly appeal to NRIs who intend to return to India after their employment abroad, in view of their attractive returns, low cost and flexibility. India has the second-largest diaspora in the world, with around 29 million people living in over 200 countries and out of them 25% live in the Gulf countries.

 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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