🔹PFRDA

🤍Formation : is a statutory authority established by an act of the Indian Parliament.

🤍Regulatory Role: Its primary role is to regulate, promote, and ensure the orderly growth of the National Pension System (NPS).

🤍Administrative Placement: It operates under the Department of Financial Services, which is a part of the Ministry of Finance.

🤍PFRDA is head-quartered at New Delhi

🔹Key Functions:

-Appointment of Intermediaries: PFRDA is responsible for appointing various intermediaries such as Pension Fund Managers
-Development and Promotion: It plays a significant role in developing and promoting the pension industry within the framework of the NPS.
-Regulation: The authority regulates the pension industry under the NPS.
-Administration of APY: PFRDA also administers the Atal Pension Yojana (APY), a government-backed pension scheme.

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