Bank of Baroda launches pension fund business

Bank of Baroda has entered the pension fund business after receiving the PFRDA Certificate of Appointment as Sponsor of the Pension Fund. It becomes the second public sector bank to enter the space and has also onboarded Tatkal NPS on BHIM.

Hyderabad: Marking a significant milestone on the occasion of NPS Divas 2026, Bank of Baroda received the PFRDA Certificate of Appointment as Sponsor of the Pension Fund under Section 27 of the PFRDA Act, 2013.

With this, Bank of Baroda becomes the second public sector bank to enter the pension fund business, marking an important step in its expansion into the retirement and long-term savings space.

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The certificate was presented by Sanjay Lohiya, Secretary, Department of Financial Services (DFS), to Dr Debadatta Chand, Managing Director and CEO, Bank of Baroda, in the presence of S Ramann, Chairperson, PFRDA, and Dinesh Kumar Khara, Chairperson, NPS Trust.

The bank also became one of the first few banks to onboard Tatkal NPS on the BHIM App as part of the second-phase rollout of Tatkal NPS.