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.
Find More News on Economy Here
In a significant development in the Indian legal landscape, Justice (Retd.) Dinesh Maheshwari, a former…
The State Bank of India (SBI), India’s largest public sector bank, has unveiled a new…
Zepto, one of India’s fastest-growing quick-commerce startups, has taken a significant step toward its Initial…
In a solemn moment for the Roman Catholic Church and the global community, Pope Francis,…
In a landmark moment for the Indian fashion and entertainment industry, Bollywood actress Ananya Panday…
In a significant literary and cultural event, a new book titled ‘Sanskriti Ka Paanchva Adhyay’…
![](data:image/svg+xml;charset=utf-8,<svg height="158px" width="300px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="34px" width="156px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
