North India Statesman
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PFRDA had recently taken a major decision keeping in mind the interest of NPS customers. It made two-factor authentication mandatory to access the Central Record Keeping Agency (CRA). This rule for logging in to CRA is going to be implemented from April 1, 2024. With this, the security of CRA will increase significantly compared to before. National Pension System helps in retirement planning. PFRDA is its regulator. What is this two-factor authentication, what difference will it make, what benefit will it provide? Let us try to know the answers to these questions.
Two-factor authentication to make the system secure
From April 1, NPS users will have to log in through Aadhaar to access CRA. For this, the existing ID of the subscribers will be integrated with the log-in process. PFRDA believes that this log-in process is part of an effort to make the system secure. This will reduce unauthorized access to the NPS infrastructure and significantly reduce security risks.
At present, lock-in is done on the basis of password only.
Before the launch of the new system, the central record keeping agencies (CRAs) will inform the government nodal offices about the detailed standard operating procedure (SOP) and process flow. Extensive efforts will be made to explain this change to the nodal officers. According to the PFRDA circular, currently nodal offices under the Central and State Governments use password-based log-in for NPS transactions.
The account will be locked if you enter the wrong password.
PFRDA believes that with log-in authentication through Aadhaar, all NPS activities undertaken by government offices and autonomous bodies will be carried out in a secure environment. If the user enters the wrong password five times consecutively, his account will be locked. The user will then need to reset their password to access the account. For this he will have to either request for I-PIN or answer a secret question.
