National, 20 September 2024: Axis Bank, has joined hands with the Pension Fund Regulatory and Development Authority (PFRDA) to launch National Pension Scheme (NPS) - Vatsalya, a scheme focused to secure the financial future of children below 18 years. As announced by Hon Finance Minister – Nirmala Sitharaman during the 2024 Union Budget, the initiative is a key step towards empowering families in planning long-term financial security for their children.
At the launch event held in Delhi, Hon Finance Minister Nirmala Sitharaman, presented a symbolic Permanent Retirement Account Number (PRAN) to Lamba Karnam Aaditri from Hyderabad, who was selected by Axis Bank.
As a part of the initiative, Axis Bank opened total 17 NPS Vatsalya accounts and handed over symbolic PRANs to the children. The senior Bank officials handed over symbolic PRANs and opened NPS Vatslaya accounts for around 16 children in Bangalore and Ahmedabad.
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