The Pension Fund Regulatory and Development Authority (PFRDA) on October 27, 2021 has issued Facility of Online APY Subscription through Aadhaar e KYC. The enrolment of Subscribers happens through physical, net banking or other digital modes provided by the respective APY-SPs (APY Service Providers).
Further, to increase the outreach and simplify the process of Subscription, CRA (Central Recordkeeping agency) would be providing digital on boarding based through Aadhaar eKYC as an additional option. Aadhaar XML based on boarding has already been made available for the benefit of Subscribers. These processes are paperless.
All the APY accounts are to be seeded with Aadhaar number for which the CRA will be providing a functionality for facilitating the Aadhaar seeding of the existing APY subscribers through the proper consent mechanism. Additionally, APY-SPs can also collect the Aadhaar details from their associated subscribers with due consent which would then be shared with CRA for seeding. All APY- SP Banks are encouraged to provide e APY link in their respective corporate website for the benefit of their customers and facilitate them with ease of on boarding.
[Notification No- PFRDA/2021/44/SUP-CRA/17]
