Bank of Baroda gets PFRDA certificate to sponsor a pension fund

Key facts

• The Pension Fund Regulatory and Development Authority (PFRDA) issued a Certificate of Appointment as Sponsor of a Pension Fund to Bank of Baroda, making it the second public sector bank to enter the pension fund business.
• The certificate was presented to Bank of Baroda Managing Director and CEO Debadatta Chand by Department of Financial Services Secretary Sanjay Lohiya on October 1 during the NPS Divas 2026 event, in the presence of PFRDA Chairperson S Ramann and NPS Trust Chairperson Dinesh Kumar Khara.
• The appointment enables Bank of Baroda to sponsor a pension fund under the PFRDA Act, 2013, following PFRDA's approval in July 2026 of Bank of Baroda, Motilal Oswal AMC and Bajaj as pension fund sponsors.
• Bank of Baroda has onboarded Tatkal NPS on the BHIM app under the second phase of the rollout, enabling users to open National Pension System (NPS) accounts in a simplified, paperless manner.