BANKING AFFAIRS

Detailed explanation-1: -Pension Fund Regulatory and Development Authority (PFRDA) is the regulatory body for overall supervision and regulation of pensions in India. It operates under the jurisdiction of Ministry of Finance in the Government of India.

Detailed explanation-2: -The Pension Fund Regulatory & Development Authority Act was passed on 19th September, 2013 and the same was notified on 1st February, 2014. PFRDA is regulating NPS, subscribed by employees of Govt. of India, State Governments and by employees of private institutions/organizations & unorganized sectors.

Detailed explanation-3: -Pension Fund Regulatory and Development Authority (PFRDA) | Department of Financial Services | Ministry of Finance | Government of India.

Detailed explanation-4: -On 23rd August, 2003, Interim Pension Fund Regulatory & Development Authority (PFRDA) was established through a resolution by the Government of India to promote, develop and regulate pension sector in India.

Detailed explanation-5: -SBI Pension Funds Pvt. Limited LIC Pension Fund Limited UTI Retirement Solutions Limited ICICI Prudential Pension funds Management Company Limited Kotak Mahindra Pension Fund Limited Reliance Capital Pension Fund Limited HDFC Pension Fund Limited Birla Sun Life Pension Management Ltd.