Bank of Baroda Enters Pension Fund Arena, Second PSU Bank to Enter Market

Marking a significant milestone on the occasion of NPS Divas 2026, Bank of Baroda received the PFRDA Certificate of Appointment as Sponsor of the Pension Fund under Section 27 of the PFRDA Act, 2013. With this, Bank of Baroda becomes the second Public Sector Bank to enter the pension fund business, marking an important step in its expansion in the retirement and long-term savings space. The certificate was presented by Shri Sanjay Lohiya, IAS, Secretary, Department of Financial Services (DFS) to Dr. Debadatta Chand, Managing Director & CEO, Bank of Baroda, in the presence of Shri S Ramann, Chairperson, PFRDA and Shri Dinesh Kumar Khara, Chairperson, NPS Trust.

During the event, the Bank also became amongst the first few banks to onboard Tatkal NPS on the BHIM App as part of the second phase rollout of Tatkal NPS. The integration of Tatkal NPS with the BHIM App is expected to significantly enhance the accessibility and reach of the National Pension System by enabling seamless digital onboarding through the widely used BHIM platform.

On the occasion, Dr. Debadatta Chand, Managing Director & CEO, Bank of Baroda expressed, "Today marks an important milestone for Bank of Baroda as we become the second Public Sector Bank to enter the pension fund business. We have also onboarded Tatkal NPS on the BHIM App. These milestones reinforce our commitment in expanding access to retirement solutions and leveraging digital innovation to make pension products more accessible and convenient for customers across the country. We remain focused on supporting greater pension penetration and encouraging long-term financial security for all."

Organised by PFRDA, NPS Divas brought together representatives from public and private sector banks, Central Recordkeeping Agencies, NPCI BHIM Services Limited and senior officials from the Department of Financial Services to discuss the growth and future of the National Pension System.

About Bank of Baroda

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over ~180 million through around 65,000 touch points spread across 15 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner. The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instill a sense of trust and security in all their dealings with the Bank.

Visit us at https://bankofbaroda.bank.in/