Positive impactEconomy
PFRDA looking to allow workers registered on e-Shram portal to open pension accounts via mobile phone, says Chairman
Mint 1 hr ago·12 Sept 2026, 6:01 pm
The Pension Fund Regulatory and Development Authority (PFRDA) is planning to introduce a new digital feature that would allow workers registered on its e-Shram portal to open their National Pension System (NPS) accounts directly via a mobile phone. This move aims to simplify the process for individuals in the informal sector, who often face barriers to accessing formal financial services.
This development is significant as it could greatly expand the reach of the NPS, potentially bringing millions of new participants into the formal pension system. For investors, this shift could signal a growing focus on financial inclusion and digitization in India's retirement sector, which may influence the long-term growth prospects of the pension fund industry.
Investors should watch for the timeline of this rollout and any technical details regarding the new mobile interface. The success of this initiative could set a precedent for other government-led financial inclusion programs.
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- Category: Economy.
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