BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Pension Fund Managers
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Custodian
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NPS Trustee Bank
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All of the above
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Detailed explanation-1: -PFRDA is responsible for appointment of various intermediaries in the system such as Central Record Keeping Agency (CRA), Pension Funds, Custodians, NPS Trustee Bank, etc. PFRDA monitors the performance of the various intermediaries.
Detailed explanation-2: -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: -Functions of PFRDA The preamble of PFRDA states that the aims of the authority is – “to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.”
Detailed explanation-4: -Pension Fund Regulatory and Development Authority (PFRDA) | Department of Financial Services | Ministry of Finance | Government of 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.