Bank of Baroda Becomes the Second Public Sector Bank to Enter the Pension Fund Business

1 October 2026National

PFRDA handed Bank of Baroda its Certificate of Appointment as a pension fund sponsor on NPS Divas, 1 October 2026, making it only the second public sector bank in pension fund management after SBI, which entered the segment in 2008. MD and CEO Debadatta Chand received the certificate. The bank's new arm, BoB Pension Fund Management Company, has Rs 100 crore of authorised capital, with BoB holding 80.10 per cent and Baroda BNP Paribas AMC 19.90 per cent. BoB also launched Tatkal NPS on the BHIM app for paperless onboarding.

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PFRDA was set up in 2003 and given statutory status by the PFRDA Act, 2013; it is headquartered in New Delhi | The National Pension System began on 1 January 2004 for central government recruits and opened to all citizens in 2009 | Bank of Baroda was founded in 1908 by Maharaja Sayajirao Gaekwad III and is headquartered in Vadodara

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