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.
Large coastlines are beneficial for any nation's growth. As the coastline connects the land with…
India held its first mango production events in the Nordic region and it organized by…
India and Pakistan are two neighboring South Asian countries with shared history but significantly different…
On 27th June every year, the world observes the Micro-, Small and Medium-sized Enterprises (MSME)…
Nestled in the scenic hills of Lonavala in Maharashtra, Lohagad Fort is one of India's…
The term "Third World Country" is widely used today, but its meaning has changed significantly…