PFRDA has enabled the National Automated Clearing House (NACH) mandate in NPS transaction to make the entire transaction process digital for Point of Presence (PoP) and other NPS distributors.
With this, PoPs and NPS sellers can facilitate complete online transfer of funds through one time mandate registration for auto debit. This will also pave the way for SIP like transaction in NPS.
PFRDA believes that the NACH mandate will reduce instances of transaction failure in the industry.