Current Affairs - Banking - Discussion

Bank of Baroda became the second Public Sector Bank in India to enter the pension fund business after State Bank of India. It received a Certificate of Appointment as Sponsor of a Pension Fund from the Pension Fund Regulatory and Development Authority (PFRDA) under Section 27 of the PFRDA Act, 2013. Bank of Baroda established BoB Pension Fund Management Company Limited, with Bank of Baroda holding an 80.10% stake and Baroda BNP Asset Management Company holding 19.90%. The bank has also integrated Tatkal NPS with the BHIM App to make NPS account opening faster, paperless and digitally accessible.