NPS Onboarding: OTP/E-sign Mandatory for Paperless Account Opening

• PFRDA mandates OTP-based or e-sign authentication for online NPS account registration.
• Applicants' consent and declarations must now be explicitly obtained via e-sign or mobile OTP at the end of the onboarding journey.
• The move strengthens subscriber authentication while maintaining the paperless account opening process.
• Central Recordkeeping Agencies (CRAs) and Points of Presence (POPs) are directed to update their systems.
• This partially modifies a June 2020 circular and is issued under the Pension Fund Regulatory and Development Authority Act, 2013.

Why It Matters: PFRDA tightens NPS online onboarding with mandatory OTP/e-sign for enhanced security.