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NBBL Launches National Pension System on Bharat Connect Platform.

Banking & Finance | Dated: 17 Oct 2024

NPCI Bharat BillPay Limited (NBBL), a subsidiary of the National Payments Corporation of India (NPCI), has partnered with the Pension Fund Regulatory and Development Authority (PFRDA) to integrate the National Pension System (NPS) as a biller category on the Bharat Connect platform, previously known as the Bharat Bill Payment System (BBPS).

🎯 Key Highlights:

  • - Individual investors can now easily contribute to their existing NPS accounts through Bharat Connect-enabled platforms.
  • - This new category is now active on popular platforms such as Bharat Interface for Money (BHIM), PhonePe, MobiKwik, and Kotak Mahindra Bank’s net banking.

💡 Other Important Facts:

  • (i) Bharat Connect has successfully onboarded all central record-keeping agencies, including Protean, KFintech, and Computer Age Management Services Limited (CAMS), ensuring that every existing NPS customer can conveniently make contributions through the platform.
  • (ii) Additionally, NBBL has collaborated with Axis Bank Limited as a Biller Operating Unit (BOU) and partnered with technology service provider Setu for the integration of NPS within its platform.

📚 Test Your Knowledge:

What has NBBL recently launched on the Bharat Connect platform?

Correct Answer: National Pension System

🚀 Quick Recap: