Regulator allows banks to sponsor NPS pension funds

Banks can now independently manage National Pension System (NPS) assets, as PFRDA approved a framework to boost competition and protect subscribers. Eligible banks must meet stringent net worth and soundness criteria. Additionally, the regulator revised investment management fees for pension funds and appointed new trustees to the NPS Trust Board, including former SBI chairman Dinesh Kumar Khara as chairperson.

from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/IezyJhg