The Pension Fund Regulatory and Development Authority (PFRDA) has decided to increase the minimum net worth criterion for pension fund managers. The minimum net worth criterion for pension fund managers has been increased from Rs 25 crore to Rs 50 crore. This enhancement in the minimum net worth criterion for pension fund managers will bring pension funds on par with mutual funds which have to meet a minimum net worth requirement of Rs 50 crores as per Securities and Exchange Board of India (SEBI) rules.
The fresh guidelines states that the licenses issued to the pension fund managers will remain valid until cancelled by the regulator as compared to the five years validity of the previously granted licenses. So, new guidelines will made provision for licenses to have indefinite validity and hence, will help the pension sector to grow to new levels.
The Election Commission of India has launched the powerful digital initiative which is the 'Know…
Honorable Union Minister of Science and Technology the Dr. Jitendra Singh has recently inaugurated the…
Recently the Newcastle Disease have spread rapidly the across several European countries and it created…
For the major breakthrough in the AI the Microsoft has introduced the new transcription model…
The Outer Space Treaty is the foundation of the international space law which was signed…
Indian Navy has inducted the its third nuclear-powered ballistic missile submarine which is INS Aridaman.…