Bank of Baroda gets PFRDA nod to sponsor pension fund
Bank of Baroda just got the green light from PFRDA to become a sponsor of a pension fund, officially stepping into the pension sector.
Announced at National Pension System (NPS) Divas 2026 on October 1, 2026, this makes BoB only the second public sector bank in this space.
Earlier this year, it was picked, alongside Motilal Oswal AMC and Bajaj, to help manage NPS assets under its 2026 guidelines.
BoB enables Tatkal NPS on BHIM
BoB is also making things simpler by adding Tatkal NPS account opening to the BHIM app, letting users sign up for NPS account opening through the BHIM platform.
This move, part of the agenda for the NPS Divas 2026 program organized by PFRDA, which brought together banks, central recordkeeping agencies, NPCI BHIM Services, and government officials, is part of PFRDA's push to expand the pension ecosystem and widen participation in the National Pension System.