Foreign Direct Investment in Pension sector

The union cabinet on 16th Nov.agreed to partially open the gates to foreign direct investment in the pension sector to the extent of 26%,as is now available in the area of insurance ,but decided not to mention any sectoral gap in the proposed legislation.Inits approval to amendments in the PFRDA Bill,2011,the Cabinet,however turned down the Parliamentary Standing Committes suggestion of provoding a guarantee on assured returns on pension fund schemes.

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