NPS – Revision in cut off time under D Remit for same day NAV: PFRDA Circular 13 Nov 2020
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
8-14 /A, Chhatrapati Shivaji Bhawan,
Outub Institutional Area.
Katwaria Sarai, New Delhi-110016
CIRCULAR
CIR no. PFRDA/2020/50/SUP-CRA/21
November 13, 2020
To,
All stakeholders under NPS
Sub.: Revision in cut off time under D Remit for same day NAV
Vide Circular no. PFRDA/ 2020/ 44/ SUP-CRA/17 dated 01st Oct 2020, PFRDA had introduced the D-Remit facility for the subscribers of all the sectors of NPS wherein they could deposit their voluntary contributions with greater ease by creating a static virtual ID linked to their Permanent Retirement Account Number (PRAN), and get same day’s NAV, provided contributions are received at Trustee Bank till 8.30 am.
2) Effective from 12th November 2020, the said timing has been revised and now the voluntary contributions received at Trustee Bank till 9.30 am. on any bank working day (other than Saturday, Sunday and Holidays) would be considered for giving the subscriber the same day’s NAV. The contributions received post 9.30 am. shall be considered for next working day NAV.
3) The users of 0-Remit may also note that the cut-off time as mentioned above is for the amount received at specified Trustee Bank’s Account and accordingly the remittance can be effected from the respective Subscribers Bank Account with sufficient margin, so that Trustee Bank receives the amount before 9 .30 am.
This circular is issued in exercise of powers conferred under Section 14 of PFRDA Act , 2013 to protect the interests of the Subscribers is available at PFRDA’s website (www.pfrda.org.in) under Regulatory Framework in the Circular Section.
(K Mohan Gandhi)
General Manager
Source: PFRDA
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