D remit not only eases contribution deposit but optimizes retirement wealth creation with same day Investment
D Remit or Direct Remittance empowers NPS Subscribers to contribute directly from the Subscribers' Savings Bank Account. It also benefits them with the benefit of the same-day investment provided the contributions are received at Trustee Bank before 9.30 AM on any bank working day other than Saturdays/Holidays. D Remit also enables the Subscribers to automate their recurring contributions as per their convenience by way of Standing Instruction so as to reap the benefit of rupee cost averaging.
At present, the subscribers can deposit their contributions under D Remit only by using NEFT and RTGS. Now, the contributions through the Immediate Payment System (IMPS), the instant payment facility offered by the National Payment Corporation of India (NPCI) are also accepted.
The functionality of accepting IMPS has been released w.e.f. 01st March 2021. However, unlike the contributions received through NEFT/RTGS which are returned on the same day in case of a return, the IMPS contributions in case of return shall be effected on T + 1 through the 'credit adjustment process' as per the guidelines of NPCI and based on D Remit process guidelines issued by PFRDA. PFRDA issued a Circular no. PFRDA/2021/6/SUP-CRA/5 dated 10th Mar 2021 on the subject.
To date, 1.48 lacs D Remit IDs are created by Subscribers across the various sectors of NPS and 180 cr of contributions are deposited using D Remit since the launch of the new feature as of 1st Oct 2020.
