NPS subscribers can now make deposits via UPI-based D-Remit facility: Here's how

Notably, the D-Remit virtual account stands apart from the Permanent Retirement Account Number (PRAN). Each tier of the NPS accounts—Tier I and Tier II—has its distinct virtual account number and corresponding QR code.

The D-Remit process brings forth several advantages for NPS participants:

Same-day investment: Contributions received before 9:30 am get invested on the same day, optimising returns.

Periodical auto debit: Subscribers can schedule regular auto-debit payments, streamlining the process of building their retirement corpus.

Flexible contribution options: Choose between one-time or regular contributions based on individual preferences and financial objectives.

Optimised investment strategies: Leveraging standing instructions and rupee cost averaging for long-term wealth creation.

For NPS account holders, this innovation paves the way for initiating systematic investment plans (SIPs) online via D-Remit. This enables subscribers to establish standing instructions for SIP payments into their NPS accounts.

To leverage D-Remit, subscribers need a virtual D-Remit ID with the trustee bank dedicated solely to remitting NPS contributions. Setting up a SIP via net banking involves adding the virtual account as a beneficiary and setting a standing instruction for the SIP amount.

Contributions made before 9:30 am reflect the same-day Net Asset Value (NAV) in NPS accounts, while those after or on non-working days reflect the next working day's NAV.