INCOME TAX2 Oct 2026
Bank of Baroda enters pension fund business as PFRDA targets 4 crore new NPS subscribers | Mint
Bank of Baroda can now run a pension fund. It received the sponsor certificate on 1 October from the Pension Fund Regulatory and Development Authority, which wants two to four crore more National Pension System subscribers within two to three years. If you work outside government, this matters, since NPS growth is strongest there. You can open an account digitally through the BHIM app.
Key Statutory Highlights
- Bank of Baroda received its pension fund sponsor certificate on 1 October, becoming the second public sector lender in this segment.
- PFRDA is targeting two to four crore additional NPS subscribers over the next two to three years, mainly from the non-government workforce.
- NPS had 2.33 crore subscribers and assets of Rs 17.49 lakh crore as of 27 September 2026.
Actionable Advice for Taxpayers / Founders:If you are saving for retirement outside a government job, you may want to look at opening an NPS account through the BHIM app and read the scheme rules carefully before you invest.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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