An official statement by the Finance Ministry has said on Friday that Non-resident Indians (NRI) can now open National Pension System (NPS) accounts online if they have Aadhaar Card or PAN card and it was said that till now, NRIs could open NPS accounts only through paper applications by approaching bank offices but this has now changed.
The statement has stated that through eNPS, a subscriber will be able to open an NPS account from the comfort of his home. All he will need is an internet connection and an Aadhaar or PAN Card and India has the second-largest Diaspora in the world, with around 29 million people living in over 200 countries, including 25 per cent in the Gulf countries.
The statement has also added that both repatriable and non-repatriable schemes will greatly appeal to NRIs who intend to return to India after their employment abroad, in view of their attractive returns, low cost, flexibility and their being regulated by the Provident Fund Regulatory and Development Authority.
