PFRDA circular PFRDA/2025/22/REG-POP/04 · 02 Dec 2025
Official title
Amendment to Master Circular - Guidelines on Know Your Customer / Anti Money Laundering/Combating the Financing of Terrorism (KYC/AML/CFT) issued on 25.09.2025 with an emphasis on KYC requirements for Non-Resident Indian (NRI) and Overseas Citizen of India (OCI) onboarding to NPS.
Summary
Check the official recordThis circular amends the Master Circular on KYC/AML/CFT to establish specific Know Your Customer (KYC) and Customer Due Diligence (CDD) processes for Non-Resident Indians (NRI) and Overseas Citizens of India (OCI) onboarding into the National Pension System (NPS). It permits digital onboarding without requiring the subscriber to be physically present in India, provided specific electronic verification measures like liveness detection and geo-tagging are met. The circular defines admissible Proof of Identity and Proof of Address documents, mandates attestation requirements for foreign documents, and outlines enhanced due diligence procedures for high-risk accounts. Additionally, it clarifies contribution and remittance norms under FEMA and requires subscribers to update their status upon becoming residents. These provisions apply to all Points of Presence (PoPs) and regulated entities.
What you must do
Key dates
Who is affected
Exceptions
If you do not comply
PFRDA/2025/22/REG-POP/04
02nd December 2025
To, All Point of Presence (PoPs), NPS Trust.
Dear Sir/Madam,
Subject: Amendment to Master Circular - Guidelines on Know Your Customer / Anti Money Laundering/Combating the Financing of Terrorism (KYC/AML/CFT) issued on 25.09.2025 with an emphasis on KYC requirements for Non-Resident Indian (NRI) and Overseas Citizen of India (OCI) onboarding to NPS.
This is with reference to the master circular no. PFRDA/Master Circular/2024/04/PoP-02 on “Guidelines on Know Your Customer / Anti Money Laundering/Combating the Financing of Terrorism (KYC/AML/CFT)” updated as on 25th September 2025. In addition to the various provisions made therein for the purpose of KYC/AML/CFT, this amendment intends to lay down the KYC/CDD process required for on boarding of Non-Resident Indian (NRI) and Overseas Citizen of India (OCI) into NPS.
The KYC process requires PFRDA registered PoPs/intermediaries to obtain and verify the Proof of Identity (PoI) and Proof of Address (PoA) from the subscriber at the time of commencement of an account-based relationship.
In this respect, Para 8.2 regarding Modes of KYC, a para may be inserted as under:
8.2.1.5 (a) In case of digital onboarding for the NRI/OCI subscribers, the requirement of capturing a live photograph of the subscribers, a digital copy of an officially valid document (OVD) and geo-coordinates of the captured location, all recorded electronically by an authorized official shall be applicable. For this purpose, the requirement of physical location of subscriber being in India, during digital onboarding, shall be relaxed for KYC for the subscriber.
8.2.1.5 (b) The Points of Presence (PoPs) shall ensure that the GPS location (latitude and longitude) captured by the intermediary matches with the latitude and longitude of country given in Proof of Address of the subscriber and it shall also prevent connections from spoofed IP address.
The digital onboarding application shall incorporate liveness detection, randomness checks, and anti-spoofing/anti–deep fake measures, ensuring that the interaction is live, tamper-proof and not pre-recorded.
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Para 8.3 (a): Admissible digital copy of Officially Valid Document (OVD) for Non-Resident Indian (NRI) and Overseas Citizen of India
REs, at the time of onboarding the subscriber into NPS, shall identify their subscriber, verify their identity and obtain information for the purpose Customer Due Diligence (CDD). The name as mentioned in the application/KYC form shall match the name as mentioned in the Proof of Identity (PoI) submitted by subscriber. The following documents shall be admissible as Proof of Identity (PoI) and Proof of Address (PoA) for opening of NPS tier I accounts.
A. For Non-Resident Indian (NRI):
a) The following documents shall be accepted as PoI: i. The passport;
a) The following documents shall be accepted as PoA: i. The passport; ii. Address proof duly certified by the foreign government or foreign public authorities:
Note: i. Where the passport of an NRI subscriber contains both the permanent and current address as foreign addresses, the same shall be accepted as valid Proof of Address (PoA). In such cases, no separate Indian address proof shall be required for Indian correspondence address. The passport copy shall be self-attested by the subscriber and attested by a competent authority (Indian Embassy / Consulate General in the country where the non-resident customer resides / Notary Public / /Court Magistrate/Judge/authorised officials of overseas branches of Scheduled Commercial Banks registered in India).
ii. Where the Passport of an NRI subscriber contains both the permanent and current address as Indian, the same shall be accepted as valid Proof of Address for Indian
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address only. However, since the subscriber is residing outside India, a separate document evidencing the current overseas address shall be obtained.
iii. In case the officially valid document presented by a foreign national does not contain the details of address, in such case the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address. All such documents shall be self-attested by the subscriber and attested by an authorised official (Indian Embassy / Consulate General in the country where the non-resident customer resides / Notary Public / /Court Magistrate/Judge/authorised officials of overseas branches of Scheduled Commercial Banks registered in India).
B. For Overseas Citizen of India (OCI):
a) The following documents shall be accepted as PoI: i. The OCI Card; and ii. The foreign passport
b) The following documents shall be accepted as PoA only if it contains current overseas address: i. The foreign passport; or ii. The driving licence (issued by foreign authorities)
Where the Passport submitted as Proof of Identity also contains the current overseas address, the same shall be accepted as valid Proof of Address.
In case the officially valid document presented by a foreign national does not contain the details of address, in such case the documents issued by the Government departments of foreign jurisdictions and a letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address. All PoA documents shall be self-attested by the subscriber, and also attested by an authorised official (Indian Embassy / Consulate General in the country where the non-resident customer resides / Notary Public / /Court Magistrate/Judge/authorised officials of overseas branches of Scheduled Commercial Banks registered in India).
Where a proof of address document is submitted in a foreign language, the regulated entity must confirm that a duly translated English version is additionally provided.
RE shall ensure that the Passport, Visa, Residence Permit and other supporting documents are valid as on the date of onboarding, and expired documents shall not be accepted unless permitted under applicable PML Rules.
The subscriber shall be responsible for providing correct and authentic documents to establish their NRI/OCI status. Submission of forged, falsified, or misleading documents
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shall result in rejection of the application and may be reported to the appropriate authorities as required under applicable PMLA provisions
C. Option of NPS Tier II account will not be available for both NRI and OCI subscribers.
8.4.3.2 All modes of KYC as permitted for on-boarding of new subscriber including NRI and OCI subscribers, shall be applicable for such updation.
Insertion of Para- 8.4.3.2 (a) In case of NRI/OCI subscribers, the updation/periodic updation of KYC records are allowed to be carried out at any overseas branch of the RE with which subscriber maintains the NPS account
Insertion of Para- 8.4.3.10 In case of existing NRI/OCI subscribers, the requirement of physical location of subscriber being in India shall be relaxed for re-KYC / KYC modification for existing subscribers.
8.4.3.11 In case of no change in the KYC information, a self-declaration from the NRI subscriber shall be obtained through subscriber’s email-id / mobile number registered with the RE, letter and other means of communication as prescribed from time to time. This is permitted only in case of periodic updation of KYC and not at the time of exit or withdrawal from the system.
