Disclosure under Regulation 30 - Sponsor of Pension Fund
BANKBARODA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bank of Baroda has received a Letter of Appointment from the Pension Fund Regulatory and Development Authority (PFRDA) to act as Sponsor of Pension Fund under the PFRDA (Registration of Pension Funds) Guidelines, 2026. This regulatory approval allows the bank to enter the pension fund management business in India. The bank now proposes to set up a new Pension Fund Management Company, though this remains subject to obtaining other necessary regulatory approvals. Further disclosures will be made as the matter progresses.
This appointment opens a new revenue opportunity for Bank of Baroda in the growing Indian pension sector. While the financial impact is not immediate due to pending approvals, it signals the bank's strategic expansion into pension fund management, potentially diversifying its income sources beyond traditional banking.