Friday, August 24, 2007

Day one in the implementation of the New Pension System

On 10 April this year, I wrote a blog entry: Day zero of implementation of the New Pension System. From 10 April till 24 August, SEBI tried to prevent NSDL from becoming the Central Recordkeeping Agency for the New Pension System (NPS). This explicit ban ended yesterday. So, 136 days later, we are now at day one of implementation of the New Pension System, though encumbered by strictures imposed on NSDL by SEBI.

Okay, 135 days later, now we get going on building the New Pension System. I think it's going to be a very exciting time from here on.

In parallel, it looks like there may be some movement on new recruits into PSU banks being placed into the NPS.

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