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Only online withdrawals for NPS from April 2016, says PFRDA

PFRDA said it was committed to support the 'Digital India' drive and efforts were being made to make various NPS related services available on online platform.

The finance department said that this investment will help govt to receive additional money from equity market and reduce burden on the state exchequer.
The services launched are - Mobile Application, SMS-based UAN Activation and Missed Call service. The services were launched by Union Minister Bandaru Dattatreya.
Under the proposed scheme, there will be tripartite agreement with member, bank/housing agency and EPFO for pledging future PF contributions as EMI payment.
The contribution of central government is calculated at the rate of 1.16 per cent of the monthly wages of the members contributing to the scheme.
The comments come as EPFO said on Thursday it would invest in stocks this year for the first time.
The investment would begin with 1 per cent of EPF-related money which could eventually go up to 15 per cent, Union Minister of State for Labour Bandaru Dattatreya said.
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