The Pension Fund Regulatory and Development Authority (PFRDA) on March 16, 2023, issued a notification regarding Financial Information (FI) Types for Balances under National Pension System (NPS).
Account Aggregators (AA) are RBI-regulated NBFCs that empower the customers and Investors of financial assets to retrieve, and collect their financial information from Financial Information Providers (FIP) based on their explicit consent. The financial information thus shared through the AA is not to be stored by the AA and shall not be the property of the AA.
PFRDA issued guidelines for empowering NPS Subscribers to port their NPS data through AA Framework where Central Record Keeping Agencies (CRAs) appointed by PFRDA act as FIP.
In order to ensure the secured and seamless movement of data across Financial Institutions across Financial Sector Regulators under different IT systems, a set of core technical specifications for the participants of the AA ecosystem are framed by Reserve Bank Information Technology Private Limited (ReBIT).
PFRDA is pleased to inform you that FI types for Balances under NPS are published on the ReBIT website under the AA framework under the link https://api.rebit.org.in/schema. These FI Types shall be the basis of information exchanges regarding Balances under NPS that could be requested by FIU through AA from CRAs as per API specifications defined by ReBIT.
[Notification No. PFRDA/2023/11/Fintech/02]
