HDFC Bank’s broking arm to distribute NPS products

HDFC Bank’s broking arm - HDFC Securities, has been appointed as a point of purchase for National Pension System (NPS) products. This is pursuant to the sector regulator, Pension Fund Regulatory Development Authority (PFRDA) granting permission to the brokerage firm to distribute the NPS products.

In order to help individuals plan and prepare for post-retirement life, PFRDA allowed citizens to participate in the NPS in 2009, which was restricted to Central Government employees since its inception. The customers have the option to choose their own investment option as well as pension fund manager, and monitor their contribution and growth.

HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 21 million customers across hundreds of Indian cities using multiple distribution channels including a pan- India network of branches, ATMs, phone banking, net banking and mobile banking.