PFRDA appoints Bank of Baroda as pension fund sponsor
In short
PFRDA has appointed Bank of Baroda as a pension fund sponsor. One report says the bank holds 80.10% in the new company, and another says it is now the second public sector bank in this business.
This matters because it expands Bank of Baroda into pensions. The report does not name the company or say when it will start operating.
What the reporting says
PFRDA appointed Bank of Baroda as a pension fund sponsor, giving the public sector lender entry into the pension fund business. BusinessLine’s summary says the bank is the sponsor of the new company with an 80.10% shareholding, and CNBC TV18 says it becomes the second public sector bank in the sector. The reporting does not name the new company or provide further operating details.
Why it matters
PFRDA appointed Bank of Baroda as a pension fund sponsor, bringing the lender into the pension fund business. The BusinessLine summary says the public sector bank is the sponsor of the new company with an 80.10% shareholding, while CNBC TV18 says it is the second public sector bank in the sector. The reporting does not identify the new entity or its launch timeline.