ICICI Bank Keen On Entering Pension Funds Biz

Mumbai: ICICI Bank on March 15, said it was keen on entering into pension funds but was awaiting the passage of the long-pending Pension Fund Regulatory and Development Authority (PFRDA) bill. They are keen to foray the pension funds business and have already prepared a road map for it. Though the central government and 16 other states employees joining the service during the last two-three years have preferred for the new pension scheme, pension funds have not come into being due to the non-passage of the PFRDA bill, being opposed by key UPA ally, the Left parties.The government has made it clear that there will not be many pension funds but initially it is proposed to have around 6-8 funds of which at least one would be in the public sector.