What does PRAN number mean?

Basically, PRAN number is a unique 12 digit code number that is an identification number for persons who are registered with NPS. A subscriber can have only one PRAN number and it comes with an al India accessibility i.e. the details can be tracked from any location in India. NPS tier I and tier II accounts operate under PRAN number. Tier I NPS account is a basic retirement account for pension plan purpose while tier II accounts serve as basic savings accounts. Withdrawal from tier I account is not allowed, while tier II accounts, being just like savings accounts, have no withdrawal restrictions.

For NPS, the basic CRA (Central Record-Keeping Agency) is the NSDL (National Securities Depository Limited) and it is the basic portal through which applications for PRAN numbers are processed. For applying for a PRAN number, you can visit the online portal of NSDL. For online application, following are the steps:

1. Log on to the official portal of NSDL. You can either apply using an aadhar card or without it. The steps are different for both processes:
2. If you have an aadhar card, then the entire verification is done using aadhar details using an OTP (One Time Password).
3. After logging in to the portal, fill in the required details and upload your scanned signature (in the given size).
4. The photograph is fetched from the aadhar database. However, you can upload a scanned photograph if you wish to do so.
5. You can then make use of internet banking or the debit/credit cards to make payment towards the NPS account from the payment gateway.
6. If you do not have an aadhar card, then it is mandatory for you to have a PAN number and an account in any of the listed banks.
7. For the verification (KYC) process, the details are fetched from the bank records and must match with the same.
8. While applying for the PRAN number, complete and verify the application form and keep your basic documents ready.
9. You will be sent an alert email and an SMS on the registered mobile number.
10. For applying offline, you have to visit the nearest NPS PoP (Point of presence). Generally your bank serves as the same.

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