The full form of ONDC is Open Network for Digital Commerce. This initiative was launched by the Government of India in April 2022, to promote local business sectors. The ONDC platform acts as an intermediary between consumers and sellers, where both of them can communicate for better experiences.

After the COVID-19 pandemic, many people realised the importance of saving money while they were still in their peak productivity years. As a result, statistics showed an abrupt rise in participants in programs like the National Pension Scheme (NPS), Public Provident Fund (PPF), Equity Linked Saving Scheme (ELSS), and so on. 

In this blog, you will learn mainly about the National Pension Scheme as we will discuss how NPS works. Also, by the end of this guide, you will get a hang of how you can utilise this tool for long-term wealth creation in addition to saving tax. 

We appreciate you starting the process of investment so you stay financially prepared for life after retirement. Please save this page to your bookmarks since it has all the links you need to manage your account.

There are various online platforms in the present-day world where people can purchase numerous products with just a few clicks. However, there are certain drawbacks associated with these platforms that sellers often face when selling their products.

To overcome these challenges, and provide equal opportunities to all sellers, the government had set up the Open Network for Digital Commerce (ONDC) platform. Sellers can list their products on this ONDC platform to connect with targeted buyers, boosting their sales.

Designed as a robust retirement planning tool, the NPS pension system offers individuals a pathway to secure their financial future post-retirement. In this blog, we delve into various aspects of the NPS, from ensuring a steady monthly income to maximizing returns and making informed investment decisions. Join us as we explore the intricacies of the NPS and equip you with the knowledge to make sound financial choices for your golden years.

On Tuesday, 26th of March, Finance Minister Nirmala Sitharaman posted regarding the Atal Pension Yojana where she highlighted the scheme’s proposition of providing a guaranteed pension. She even reminded her followers that the APY has generated record returns of 9.1% since inception. Considering the returns of other savings plans it is a quite decent rate standing in 2024. 

With the emergence of COVID-19 in the year 2020 people in India not only faced health care issues but also faced the problem of accessing public goods in India. However, the integration of digital techniques played a crucial role in overcoming this challenge and led to a rise in the concept of ‘Digital Public Good (DPG)’.

According to UN Today, the use of DPGs will more than double in India and continue to increase. These DPGs play a crucial role towards achieving the United Nations’  sustainable development goals, aligning with the digital India initiative.

Among Indians, the popularity of NPS has soared in terms of retirement planning, especially in recent years. Noticing this trend, the Pension Fund Regulatory & Development Authority (PFRDA) has also introduced specific features that are likely to further fortify the diverse needs of investors. 

An account aggregator is a type of financial system that has revolutionized investing and credit. It is an RBI-regulated entity which helps individuals securely access and share their financial information digitally.

More than 34 Million accounts have been created in the country’s account aggregator ecosystem, including public and private bank accounts. The account aggregator ecosystem allows individuals to protect and control their financial data. The revolutionary concept will not only help the customers but also businesses and financial institutions.

The National Pension System or NPS was launched by the Government of India on 1st January 2004. Even though initially it was launched for government employees, since 2009 it has been opened to employees from the corporate sectors as well. This allows the subscribers to contribute to their pension accounts regularly during their working period.