Achi news desk-
Under the new security mechanism, NPS subscribers can access their accounts only after providing Aadhaar-based identification and entering the OTP issued to their registered mobile number.
As per the PFRDA, the Aadhaar-based login authentication would be combined with the existing user ID and password-based login process to make the CRA system available through two-factor authentication.
The Pension Fund Regulatory and Development Authority (PFRDA) plans to change the current login process for National Pension System (NPS) accounts by April 1, 2024, in response to an increase in online fraud across the country.
The pensions regulatory authority has announced a safer mechanism. They have introduced two-factor Aadhaar authentication and made the enhanced security mandatory for all password-based users joining the NPS Central Recordkeeping Agency (CRA) system starting April 1, 2024.
Under the new security mechanism, NPS subscribers can access their accounts only after providing Aadhaar-based identification and entering the OTP issued to their registered mobile number.
What is Aadhaar two factor authentication system?
Aadhaar’s two-factor authentication system adds additional tests to certify the authenticity of the fingerprints and limit forgery attempts, making Aadhaar-authenticated transactions much more secure and resilient.
What are the benefits of the two-factor authentication feature?
The implementation of Aadhaar-based login authentication seeks to strengthen the overall authentication and login infrastructure of the NPS CRA system. According to PFRDA announcement on March 15, this year, the new security system will offer – more security and better protection.
The PFRDA said the two-factor solution significantly reduces the possibility of unauthorized access to the CRA system, while also securing GCC transactions and protecting the interests of subscribers and stakeholders.
What will the new login mechanism look like?
As per the PFRDA notification, Aadhaar-based login authentication will be merged with the current User ID and Password-based login method, allowing for two-factor authentication while accessing the NPS CRA system.
Check the updated instructions for accessing the NPS account with two-factor Aadhaar authentication:
– Go to the GCC website at https://enps.nsdl.com/eNPS/NationalPensionSystem.html.
– Select the ‘Sign in with PRAIN / IPIN’ option.
– To open a new window, click on the PRAIN/IPIN tab.
– Log in with your username and password.
– Fill out the Captcha check carefully.
– The window will then ask for Aadhaar verification and send an OTP to your registered mobile number.
– Enter the OTP you received.
– You will now have access to your NPS account.
When are you denied access to your NPS account?
According to the new two-factor authentication mechanism of Aadhaar, if a user enters an incorrect password five times in a row, the NPS CRA would deny access to the account and lock it. Even after the account is locked, the user will be able to reset his password by answering the secret question.
