InvestorQ : What is NPS de-remit? How can I initiate one?
Deepali Khupte made post

What is NPS de-remit? How can I initiate one?

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Kunal Verma answered.
2 weeks ago
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It is an electronic system through which one can transfer money directly from a customer’s bank account to the Trustee’s Bank account so that one could get same-day Net Assets Value (NAV) for their investment in NPS. This also eases the mode of depositing the voluntary contributions by the subscribers to the scheme. A subscriber shall have a Virtual ID (Account) with Trustee Bank to use this feature. One could be able to use a virtual account with the trustee bank only for remitting NPS contributions.

To initiate de-remit, you have to follow the following steps:

Prerequisites:
You should have an active NPS PRAN (Permanent Retirement Account Number).
Update Mobile Number in NPS.
Internet Banking Facility with any Bank.

Procedure:
  • Visit the website eNPS and click on ‘National Pension System’
  • Click on the option ‘Get Same Day NAV’
  • Provide necessary details to verify PRAN
  • You will receive an OTP on your registered mobile number/Email id, submit it.
  • Select the account whether Tier I or Tier II for which you want to create your virtual account and click on the option ‘Generate Virtual Account’
  • After submission, the request shall be forwarded to the Trustee bank, and an Acknowledgement Number will be displayed. A separate number is generated for every Tier type.
After authorization is received by the Trustee Bank (by the next working day), your virtual account will become active and you will receive confirmation from the CRA system.

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