Bank of Baroda Becomes PSU Pension Fund Sponsor Under PFRDA

17 October 2026 · Effective 9 October 2026

Bank of Baroda received its Certificate of Appointment as Sponsor of a Pension Fund under Section 27 of the PFRDA Act, 2013 on 1 October 2026 during NPS Divas 2026, becoming the second PSU bank after SBI in the pension fund segment. PFRDA had selected Bank of Baroda, Motilal Oswal AMC and Bajaj as pension fund sponsors in July 2026 under new guidelines. - Certificate of Appointment as Sponsor of a Pension Fund received under Section 27 of the PFRDA Act, 2013 on 1 October 2026 at NPS Divas 2026. - Bank of Baroda is the second public sector bank after SBI to enter the pension fund business; PFRDA selected Bank of Baroda, Motilal Oswal AMC and Bajaj as sponsors in July 2026. - Certificate presented by Sanjay Lohiya, Secretary, Department of Financial Services, to Bank of Baroda MD & CEO Debadatta Chand; PFRDA Chairperson S Ramann and NPS Trust Chairperson Dinesh Kumar Khara were present. - PFRDA targets 2-4 crore additional NPS subscribers over 2-3 years; current subscribers 2.33 crore with assets of ₹17.49 lakh crore as of 27 September 2026. - Bank of Baroda onboarded Tatkal NPS on the BHIM app for digital NPS account opening; PFRDA launched NPS Swasthya (medical savings with top-up health cover). Why it matters: This brings a new pension fund sponsor into the NPS ecosystem, expanding options for retirement savings; digital onboarding via BHIM app and NPS Swasthya may attract more non-government subscribers, especially in the private sector.

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