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HDFC Securities Collaborates with KFin Technologies to Expand NPS Accessibility.

Banking & Finance | Dated: 31 Jan 2025

In January 2025, Mumbai (Maharashtra)-based HDFC Securities Limited, a subsidiary of HDFC Bank Limited, formed a strategic partnership with Hyderabad (Telangana)-based KFin Technologies Limited to enhance the accessibility and adoption of the National Pension System (NPS).

🎯 Key Highlights:

  • - This collaboration aims to simplify NPS management by introducing features such as flexible transaction downloads and real-time Short Message Service (SMS) notifications.
  • - The partnership integrates HDFC Securities' network of over 3.5 lakh subscribers and 2,700 corporate clients with KFintech's Central Recordkeeping Agency (CRA) platform.
  • - CRAs play a vital role in the NPS ecosystem by managing subscriber records, ensuring transparency, and facilitating seamless account operations.

💡 Other Important Facts:

  • (i) The CRA platform incorporates advanced security measures, including dual-factor authentication, passwords, and one-time passwords (OTPs).
  • (ii) Subscribers can access dedicated portals, WhatsApp services, and a missed-call facility to monitor investments and make modifications effortlessly.
  • (iii) In 2024, the Government of India (GoI) increased tax benefits under corporate NPS from 10% to 14% of basic income.

📚 Test Your Knowledge:

Recently, HDFC Securities partnered with which company to enhance the accessibility of the National Pension System (NPS)?

Correct Answer: KFin Technologies

🚀 Quick Recap: