RBI allows NRIs to subscribe to National Pension System enabling them access old age income security. Which of the following statement is wrong?
NPS was launched in 2004 and was initially introduced for all the new Government recruits.
NPS was launched in 2004 and was initially introduced for the new Government recruits (except armed forces).
Extra Information:
NRIs may subscribe to the NPS through normal banking channels and the person is eligible to invest as per the provisions of the PFRDA Act, 2013. NRIs should pay the subscription amounts of NPS either by inward remittance through normal banking channels or out of funds held in their NRE/NRO/FCNR account.
About National Pension System (NPS)