KFintech enables NPS Swasthya initiative to help address healthcare expenses within the NPS framework

KFin Technologies Limited (KFintech), a Central Recordkeeping Agency (CRA) under the National Pension System (NPS), is enabling instant withdrawal under the NPS Swasthya Scheme. This solution is being developed in collaboration with Apollo 24/7, and is available as a payment option on the Apollo 24/7 Payment App or portal. Subscribers can link their NPS Swasthya account with the Apollo 24/7 Payment app and pay for medical expenses as fast as making an UPI payment.

Under this Scheme subscribers can pay eligible medical expenses through their NPS Swasthya contribution while their remaining retirement corpus continues to stay invested for the future. This helps individuals deal with real life healthcare needs while maintaining financial discipline for retirement.

KFintech, in its role as the CRA, is responsible for account validation, transaction processing, and settlement within the NPS system. When an eligible healthcare payment is made through the designated partner network, the request is securely validated, the required units are redeemed as per applicable rules, and the payment is directly settled to the healthcare provider. This ensures a smooth, transparent, and compliant experience for subscribers.

Registration for investments in NPS Swasthya is available on the Apollo 24/7 App and also on ICICI Prudential Pension Funds Website.

Commenting on the launch, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited, said, "The NPS Swasthya Proof of Concept reflects a progressive step towards advancing financial inclusion by making retirement solutions more responsive to essential life stage needs such as healthcare, within a regulated framework. Enabling such flexibility within a long-term retirement system requires a robust technology and recordkeeping infrastructure to ensure governance, transparency, and rule-based processing, rather than discretionary access to funds. As the Central Recordkeeping Agency, KFintech's digital architecture ensures secure validation, compliant unit redemption, and auditable transaction flows, thereby delivering a seamless experience for subscribers while safeguarding the continuity and integrity of their retirement corpus."

This initiative underscores the role of technology led recordkeeping infrastructure in supporting regulatory innovation within the NPS ecosystem, enabling seamless execution, strong governance, and improved accessibility for subscribers under the Sandbox framework.

Shares of Kfin Technologies Limited was last trading in BSE at Rs. 1009.85 as compared to the previous close of Rs. 1006.85. The total number of shares traded during the day was 23478 in over 1197 trades.

The stock hit an intraday high of Rs. 1028.95 and intraday low of 1006.00. The net turnover during the day was Rs. 23842056.00.

Source : Equity Bulls

Keywords

KfinTechnologies INE138Y01010 KFINTECH Intermediaries NPSSwasthya