Bank of Baroda has formally entered the pension fund business after receiving the Certificate of Appointment as Sponsor of a Pension Fund from the Pension Fund Regulatory and Development Authority (PFRDA), becoming the second public sector bank to foray into the segment. 

The certificate was handed over to Bank of Baroda Managing Director and CEO Debadatta Chand on October 1 during the NPS Divas 2026 event. The appointment enables the public sector lender to sponsor a pension fund under the provisions of the PFRDA Act, 2013.