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The Pension Fund Regulatory and Development Authority (PFRDA) on Thursday permitted banks to independently set up pension funds to manage the government’s flagship National Pension System (NPS), a move aimed at enhancing competition and safeguarding subscriber interests, PTI reported.The PFRDA board “has approved, in principle, a framework to permit Scheduled Commercial Banks (SCBs) to independently set up pension funds to manage NPS, with the objective of strengthening the pension ecosystem, enhancing competition and safeguarding subscriber interests,” the regulator said in a statement.Under the proposed framework, PFRDA said it seeks to address regulatory constraints that had so far limited bank participation, while introducing clearly defined eligibility criteria based on net worth, market capitalisation and prudential soundness, in line with RBI norms.

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New Delhi, July 10 (IANS): The government on Friday issued clarifications on certain media reports regarding functioning of designated 1600 series and 140 series, which could potentially lead to misinformation or misinterpretation of operation of these designated series.According to the TRAI, the 1600 series numbers are mandated for service and transaction calls by regulated entities of BFSI sector.These calls are for entities regulated by RBI, SEBI, IRDAI and PFRDA to their existing customers and by government entities for government to citizen communication.“A key objective of assigning designated series for these important communications is to make such calls trustworthy for the customers/ citizen. Under the Telecom Commercial Communications Customer Preference Regulation (TCCCPR), any tagging, blocking or filtering of the calls originating from 1600 series numbers is not permitted,” the TRAI said in a statement.Moreover, the use of 140xx series numbers has been mandated for making promotional calls by entities of any sector.“Entities desirous of availing 140 series number for making promotional calls must register with Telecom Service Providers under the TCCCPR framework and comply with the provisions of the regulation. The customers have the right to allow or block promotional call originating from 140 series numbers from entities of any or all sectors by registering their preference on the Do Not Disturb (DND) registry,” informed the telecom regulator.It further stated that a customer who has blocked any or all sectors from receiving promotional calls on the DND registry will not receive any calls from 140 series originating from entities of the blocked sectors.The statement said that the customer can register his/her DND preference through multiple means including through TRAI DND App.Any tagging or filtering of calls from 140 series numbers is not allowed except for blocking on the DND registry, as any tagging can mislead a customer who has otherwise allowed receipt of such calls from a sector on the DND registry, it added.

Addressing an event organised by the Pension Fund Regulatory and Development Authority (PFRDA), Nageswaran said pension funds, given their long investment

ICICI Prudential Pension Funds is a premier Pension Fund Manager licensed by PFRDA to provide retirement savings scheme of National Pension System

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