Karvy Computershare has been chosen as the first private sector company to receive licence from the Pension Fund Regulatory and Development Authority (PFRDA) to commence operations as a Central Record-keeping Agency (CRA).

This will enable it to service subscribers of National Pension System. With its full-fledged CRA services and interoperability, Karvy will roll out services for subscribers of NPS from April 1, 2017.

NPS subscribers will have an option to choose between Karvy Computershare and NSDL e-Governance infrastructures.

C Parthasarathy, Chairman, Karvy Group, in a statement said: “With over three decades of experience in registrar and transfer agency services, Karvy Computershare has proven its expertise and delivery capabilities and has emerged as the market leader. Karvy Computershare will continue to deliver excellence through innovative technology and localised services in the CRA business as well.”

V Ganesh, CEO, Karvy Computershare, said, “Disruptive technologies with scaled processes at affordable cost would be Karvy’s focus to drive value in the CRA business and make it a household name.”

Employees of all corporate entities receive dual benefit by investing in NPS. The total investment in NPS will be exempted under Section 80 CCD(2) for a maximum of ₹50,000 during a financial year.

Investment in NPS can be made up to 10 per cent of basic salary plus DA. And the entire amount to the extent of ₹1.5 lakh will be exempted under Section 80C for a financial year.

Karvy Computershare is the largest registrar and transfer agent in the country today, servicing over 80 million investor accounts spread over 1,300 issuers, including banks, public sector units and mutual funds.

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