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Eligibility of Overseas Citizens of India (OCI) Cardholders to subscribe for National Pension System (NPS)

Posted on: April 01, 2019 | Back | Print

Eligibility of Overseas Citizens of India (OCI) Cardholders

to subscribe for National Pension System (NPS)

          It is informed that the proposal for inclusion of Overseas Citizens of India (OCIs) as an eligible category of individuals who can subscribe to Natioal Pension System (NPS) in parity with NRIs, has been approved by the Board of Pension Fund Regulatory and Development Authority (PFRDA) in its 77th meeting held on 19/02/2019. The said approval has been communicated by PFRDA to Reserve Bank of India (RBI) with request to suitably amend/notify the Foreign Exchange Management Act (FEMA) 20(R) amendments at the earliest for enabling to launch NPS for OCIs at par with Non Resident Indians (NRIs).