"Custodian of Securities" is the entity which has been granted a certificate of registration by the PFRDA for the safekeeping of securities or assets held under the NPS or APY. Custodian is responsible for carrying out settlements, recording receipts, keeping and maintaining records, and managing custody accounts of the schemes on behalf of the NPS Trust. Presently, the Deutsche Bank AG is the Custodian under the NPS.
Functions and Responsibilities of a Custodian
The Custodian under NPS is designed to perform the following functions:
- The securities under the schemes are held in dematerialized form by the Custodian in the name of the NPS Trust.
- Acts as a Domestic Depository participant and undertakes activities as prescribed in the Depositories Act, 1996 or as defined by the Securities and Exchange Board of India (SEBI).
- Acts as a Custodian to pension funds managing various schemes on behalf of the NPS Trust.
- Collects the benefits or rights such as dividends or income that have accrued on the securities.
- Keeps the pension funds posted about various corporate actions.
- Keeps records and reconciles the records of the securities.
Custodian under NPS
| Name of Custodian | Address | Custodian charges | Website | Contact details |
| Deutsche Bank AG | Deutsche Bank House, Hazarimal Somani Marg, Fort, Mumbai-400001 | 0.000000001770 % per annum of asset under custody for electronic and physical segment | https://www .db.com/ | deutsche[dot]bank[at]db.com +91-22-71804999
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Important FAQs
Who appoints the Custodian?
The Pension Fund regulator Pension Fund Regulatory and Development Authority (PFRDA) appoints the Custodian of securities. At present, the Deutsche Bank AG is the Custodian on behalf of the NPS Trust.
What is the period of appointment of the Custodian?
The Custodian is appointed for a period of 5 years.
Who monitors the Custodian?
NPS Trust monitors the activities of Custodian.