BANKING AFFAIRS

Detailed explanation-1: -PRAN is an acronym for Permanent Retirement Account Number, which is the unique and portable number provided to each subscriber under NPS and remains with him throughout. On successful registration, a PRAN (Permanent Retirement Account Number) will be allotted to the subscriber.

Detailed explanation-2: -The PRAN or Permanent Retirement Account Number is a unique 12 digit number that identifies those individuals who have registered themselves under the National Pension Scheme (NPS).

Detailed explanation-3: -One of the core attributes of NPS is portability of PRAN across sectors. The PRAN allotted under NPS is unique and portable. This unique account number will remain the same for the rest of Subscriber’s life.

Detailed explanation-4: -Check Status of PRAN Application It shall be noted that the POP-SP provides a 17 digit acknowledgment number to the prospective subscriber after filing the application form. And the applicant has to use this acknowledged number to check the status for their PRAN application either online or the Nodal officer.

Detailed explanation-5: -You can go to your nearest POP-SP and submit the PRAN application along with the KYC documents. PRAN card will be sent to your correspondence address by CRA. You are required to make your first contribution (minimum of Rs 500) at the time of applying for registration to any POP-SP.