Bank of Baroda Receives PFRDA Approval to Enter Pension Fund Business

The Pension Fund Regulatory and Development Authority (PFRDA) has appointed Bank of Baroda as a sponsor of a pension fund, according to news reports.  

The bank received the Certificate of Appointment as Sponsor of a Pension Fund on October 1 at the NPS Divas 2026 event. The appointment has been made under Section 27 of the PFRDA Act, 2013. 

Certificate Handed Over at NPS Divas 

Department of Financial Services Secretary Sanjay Lohiya presented the certificate to Bank of Baroda Managing Director and CEO Debadatta Chand. 

PFRDA Chairperson S Ramann and NPS Trust Chairperson Dinesh Kumar Khara were present when the certificate was handed over. 

Bank of Baroda said it is the second public sector bank to enter the pension fund business. PFRDA had approved the bank, Motilal Oswal AMC and Bajaj as pension fund sponsors in July 2026. 

PFRDA’s Revised Framework 

The July approvals followed applications invited by PFRDA under its 2026 guidelines for the selection of pension fund sponsors. 

Under the framework, pension funds can manage assets under the National Pension System (NPS) for both government and private-sector schemes. 

PFRDA has been taking steps to increase participation in NPS and widen the pool of pension fund sponsors and managers. The regulator has also been publishing pension fund-wise and scheme-wise data on NPS assets and subscribers. 

Tatkal NPS Added to BHIM 

Separately, Bank of Baroda has added Tatkal NPS to the BHIM app as part of the second phase of the facility’s rollout. 

The integration allows users to open NPS accounts through BHIM using a paperless process. Tatkal NPS was also part of the NPS Divas 2026 programme organised by PFRDA. 

The event brought together banks, central recordkeeping agencies, NPCI BHIM Services and government officials to discuss pension coverage and subscriber onboarding. 

Read More: KPI Green Energy Share Price in Focus; Alok Das Resigns as Group CEO Effective October 1, 2026! 

Bank of Baroda (BoB) Share Price Performance  

As of October 1, 2026, 3:30 pm, Bank of Baroda (BoB) share price closed at ₹230.82, a 0.12% increase from the previous closing price. 

Conclusion 

Bank of Baroda’s appointment brings the lender into the pension fund segment under the PFRDA framework. The bank has also added a digital route for NPS account opening through BHIM. 

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