HDFC Securities, a subsidiary of HDFC Bank, has entered into a partnership with KFin Technologies Limited (KFintech), a Central Recordkeeping Agency (CRA). The collaboration aims to improve the accessibility and adoption of the National Pension System (NPS) among subscribers.

HDFC Securities, with a subscriber base of over 3.5 lakh and more than 2,700 corporate clients, will leverage KFintech’s CRA platform to enhance NPS services.

CRAs play a key role in the NPS ecosystem by managing subscriber records, ensuring transparency, and simplifying account operations.

KFintech’s platform offers features such as flexible transaction statement downloads, real-time SMS notifications, dual-factor authentication for security, and user-friendly access through dedicated portals, WhatsApp, and a missed call service.

Dhiraj Relli, MD & CEO of HDFC Securities, stated that the partnership aligns with the growing interest in Corporate NPS, driven by recent enhancements in tax benefits.

Corporate NPS contributions now qualify for tax deductions of up to 14% of basic income, compared to 10% earlier.

Sreekanth Nadella, MD & CEO of KFin Technologies, highlighted the role of digital solutions in expanding pension coverage.

He said the collaboration aims to leverage technology and corporate networks to increase NPS penetration.

The partnership is expected to strengthen efforts to grow the corporate NPS segment, which currently includes 18,700 registered organizations and 21.6 lakh subscribers.

HDFC Securities, a stockbroking company, provides a range of investment products and trading services. It serves over 7.5 million customers across 150 cities and operates more than 200 branches nationwide.

On the other hand, KFin Technologies is a technology-driven financial services platform offering solutions across the capital markets ecosystem.

It is one of the three CRAs operating under the NPS in India and provides services to asset managers, corporate issuers, and investors globally.