February 18, 2016 The Reserve Bank of India has clarified that the NBFC cannot undertake Point of Presence services for NPS (National Pension System).
DNBR (PD) CC.No. 073/03.10.001/2015-16
All Non-Banking Financial Companies
Undertaking of Point of Presence (PoP) Services under
Pension Fund Regulatory and Development Authority for
National Pension System (NPS)
The Reserve Bank of India (the Bank) has received proposals from Non- Banking Financial Companies (NBFCs), seeking approval for undertaking of Point of Presence (PoP) Services under Pension Fund Regulatory and Development Authority for National Pension System.
2.The Bank has carefully examined the proposals and it has been decided, in public interest that NBFCs shall not undertake PoP services for National Pension System.
Chief General Manager