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If you have questions related to Non-Resident Indian matters or want to share your experience to others,
Just go to  http://www.justasknri.com and start asking or answering questions. I also like to hear from you about the future improvements, so don't hesitate to email me at info@justasknri.com.


National Pension Scheme - What is going on?

It has been a while since I updated about the National Pension Scheme. But believe me, you didn't lose anything. As usual, government and their policies takes time to move and reach out to public. The movement is very slow in putting all the things in place and setup for enduser investing. I see lot of blogs than lastyear with more details especially many compliants about the way it is being handled.

With all the initial hype and great interest from NRI's, we expected the NPS would be up and running efficiently by now with more marketing from POC's and banks. But thats not truth, things are moving in snail fast. Anyway, here are some information, links and forms which you can go through

One good news, many banks which are declared as Points of Presence (POP) are setting up centers to support this scheme and slowly jumping in the band wagon. Their current target is focused mainly on citizens of India living in India and not many banks have good information about how to NRI's.

One bank which I just came across being named among POP's for NPS is focusing on Gulf/Middle East NRI  community is South Indian Bank. The SIB claims to be the largest service provider for the scheme, having the highest number of authorised branches for offering services under the NPS. You can learn more about their service by visiting their website at SIB.  Other banks who are named as POP's are also offer NPS and accept contributions are listed below:

Allahabad Bank,
Axis Bank Ltd,
Bajaj Allianz General Insurance Co Ltd,
Central Bank of India (CBI),
Citibank,
Computer Age Management Services Private Ltd,
ICICI Bank Ltd, IDBI Bank Ltd,
IL&FS Securities Services Ltd,
Kotak Mahindra Bank Ltd,
Life Insurance Corporation of India,
Oriental Bank of Commerce,
Reliance Capital Ltd,
State Bank of Bikaner&Jaipur,
State Bank of Hyderabad,
State Bank of India,
State Bank of Indore,
State Bank of Mysore,
State Bank of Patiala,
State Bank of Travancore,
Union Bank of India and
UTI Asset Management Company Ltd

Click here to see the detail list of branches in various cities. Also here is the registration form to register with POP.

Here are few Articles I came across which might interest your on this topic.

Details about South India Bank and NPS at
thepeninsulaqatar.com

Reasons why NPS is not growing as expected at Business-standard.com

Questions&Answer about NPS economytimes.com

NPS not Cheap by businesspandit.com

ICICI NPS FAQ at ICICI.com

To conclude, it will take more time to get much more clearance on the process and availability of the scheme for NRI's more easily. Please continue the research and you are welcome to share any good information here. I will also keep updating on this topic when I hear any thing new so keep checking.


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