NPCI BHIM Services Limited (NBSL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), has introduced Tatkal NPS on the BHIM Payments App, enabling eligible users to open National Pension System (NPS) accounts through a three-step digital process without visiting a branch or submitting fresh paperwork.
Announced on October 14, the facility, introduced by the Pension Fund Regulatory and Development Authority (PFRDA), uses existing bank-verified KYC details. Users need to enter their date of birth, select an eligible bank account and make an initial contribution through UPI.
The service is currently available to customers of State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank and Bank of Baroda, with additional banks expected to join later.
Lalitha Nataraj, managing director and CEO of NBSL, said the initiative would expand BHIM’s role from facilitating payments and NPS contributions to supporting pension account onboarding. PFRDA chairperson S. Ramann said the partnership aims to make retirement planning more accessible to eligible citizens.
Indian citizens aged 18 to 85 can open an account through the facility. The minimum initial contribution is ₹250, while subsequent contributions can start at ₹10, subject to applicable NPS requirements.
NPS is a PFRDA-regulated pension scheme in which contributions are invested in market-linked funds managed by regulated pension fund managers. Tax benefits are available, subject to applicable rules.
