Axis Bank and Tata Capital are reportedly in discussions with the Pension Fund Regulatory Development Authority (PFRDA) to establish a pension fund Asset Management Company (AMC).
Presently, there are eight pension fund managers for both the public and private sector National Pension Scheme (NPS). LIC, UTI and SBI manage both the public and private sector NPS, while HDFC, ICICI, Kotak Mahindra, Reliance Capital and DSP Blackrock manage only the private sector NPS. DSP Blackrock is the latest entrant which became operational in November 2012.
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
