CRA as the New FIP for NPS Subscribers  

Posted On - 31 October, 2023 • By - King Stubb & Kasiva

As per the Reserve Bank of India’s notification the Central Recordkeeping Agency (“CRA”) is now the Financial Information Provider (“FIP”) with respect to data on National Pension System (“NPS”) subscribers and balances.  

The CRA, registered under section 27 of the Pension Fund Regulatory and Development Authority (“PFRDA”) Act, 2013, serves as an interface between the various NPS intermediaries in accordance with the architecture of the NPS. Information on subscribers, including their NPS balances, is stored by CRAs. Consequently, and in accordance with the PFRDA’s recommendation, the CRA has been chosen to take the position of “Pension Fund” as the financial information supplier in the Account Aggregator ecosystem.