Bank of Baroda Becomes Second PSB in Pension Fund Business
Bank of Baroda has become the second public sector bank to enter the pension fund business. It received the certificate from the PFRDA.
The certificate was handed over on October 1 at NPS Divas 2026. DFS Secretary Sanjay Lohiya gave it to MD and CEO Debadatta Chand. The approval is under Section 27 of the PFRDA Act, 2013.
The bank has set up BoB Pension Fund Management Company. It has an authorised capital of Rs 100 crore. Bank of Baroda holds 80.10 per cent. Baroda BNP Asset Management holds 19.90 per cent.
State Bank of India was the first public sector bank in this space. It entered in April 2008. Its pension fund arm had assets of Rs 6.14 lakh crore as of August.
The bank has also added Tatkal NPS on the BHIM app. This lets users open NPS accounts in a paperless way. The move opens up India’s large retirement savings market for the bank.
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