Bank of Baroda Joins Pension Fund Sector, Strengthens Digital Access via BHIM App

GUWAHATI: Bank of Baroda became the second public sector bank to enter the pension fund business after receiving the PFRDA Certificate of Appointment as Sponsor of the Pension Fund under Section 27 of the PFRDA Act, 2013, on the occasion of NPS Divas 2026.

The certificate was presented by Sanjay Lohiya, Secretary, Department of Financial Services, to Dr Debadatta Chand, Managing Director and CEO of Bank of Baroda, in the presence of S Ramann, Chairperson, PFRDA, and Dinesh Kumar Khara, Chairperson, NPS Trust. The bank also became one of the first few banks to onboard Tatkal NPS on the BHIM App as part of its second-phase rollout. The integration was aimed at making digital onboarding to the National Pension System more accessible through the BHIM platform.

Chand said the developments marked an important milestone for the bank and reaffirmed its commitment to expanding access to retirement solutions and using digital innovation to make pension products more accessible and convenient.

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

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