 "More than 9,700 minor subscribers enrolled under NPS Vatsalya on first day")
About 9,700 minor subscribers have been enrolled under NPS Vatsalya on the day of the launch of the scheme earlier this week.
The scheme, regulated and administered by the Pension Fund Regulatory and Development Authority (PFRDA), provides an opportunity to parents and guardians to start saving for their children's retirement early by harnessing the power of compounding, marking a significant milestone in India's evolving pension landscape.
In a landmark government initiative aimed at securing the financial future of India's youth, Finance Minister Nirmala Sitharaman officially launched the NPS Vatsalya Scheme on September 18, fulfilling a key Union Budget 2024-25 announcement.
On the day of the launch, NPS Vatsalya received an overwhelming response, as 9,705 minor subscribers have been enrolled under the scheme through various Points of Presence (PoPs) and thee-NPS portal, PFRDA said in a statement on Friday.
Out of this, 2,197 accounts were opened through e-NPS portal alone, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app