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The government has now allowed Non-Resident Indians (NRIs) to open accounts under the National Pension System online. “NRIs can now open NPS Accounts online if they have Aadhaar Card or PAN card,” said the Finance Ministry on Friday, adding that the facility will be available for both a repatriable and non-repatriable basis. Until now, NRIs could open NPS accounts only through paper applications by approaching bank offices. For the repatriable scheme, the NRI will remit the amount through his Non Resident External account (NRE), Foreign Currency Non Resident account or a Non Resident Ordinary (NRO) account. In the non-repatriable scheme, while the NRI will be able to join the NPS through their NRE, FCNR or NRO accounts, the funds at the time of maturity or during partial withdrawal would be deposited only in their NRO accounts. Our Bureau
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