PFRDA will give perpetual licences to fund managers: Supratim Bandyopadhyay

The Pension Fund Regulatory and Development Authority (PFRDA) will issue request for proposals (RFPs) in the next two months and select fund managers for perpetuity against the current practice of issuing these licences for five years.
 
Supratim Bandyopadhyay, newly appointed chairman of PFRDA, said the authority expected that the existing seven fund managers and some others would apply for these RFPs.
 
Licences for perpetuity means these would not be revoked unless a fund manager itself wants to exit or it violates some terms. The fund managers will only need to pay fee for renewing licences.
 
Earlier, PFRDA