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Sir,
I have qualified in the sbi clerical test .Now my
interview is on 16-10-2008.So pls tell me what questions
are asked in the interview and tell me the reference book
for interview in sbi.
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Answer Posted / saurabh
hey guys this is saurabh from jaipur again sharing some
good knowlege with you.
and please let me know if there is somebody who is also
from jaipur and about to be interviewed.?????????/
SBI, LIC, UTI-AMC to manage pension funds
A committee constituted by the Pension Fund Regulatory and
Development Authority (PFRDA) has selected State Bank of
India (SBI), UTI Asset Management Company (UTIAMC) and Life
Insurance Corporation (LIC) to be the first sponsors of
pension funds in the country under the new pension system
(NPS) for government employees.
The three entities would float their respective pension
funds to manage the money that has been lying in public
account since the government switched over to the
contributory pension scheme for all fresh recruits at the
Centre from January 1, 2004.
All states, barring the three Left-ruled ones, have also
adopted the new pension system for their staff. As per
estimates, about five-lakh Central and state government
employees have joined the scheme since it came into being
on January 1, 2004, leading to accumulation of around Rs
2,000-crore pension fund corpus.
Under the NPS, employees have to contribute 10 per cent of
their basic salary and dearness allowance, with a matching
contribution from their employer. This contributory system
is in contrast to the earlier system, in which employees
used to get defined returns.
The sponsors will have to offer alternative products to
employees including risk-free options under which all funds
would be invested in government securities, and share-
market linked products with variable returns as well.
All states, barring the three Left-ruled ones, have also
adopted the new pension system for their staff. At present,
a total of about Rs 2,000 crore is available for fund
management under NPS.
Pension Fund Regulatory and Development Authority (PFRDA)
had invited Expressions of Interest (EOI) from public
sector entities for sponsoring Pension Funds for Government
employees on 11th May 2007. In response, EoIs were received
from seven public sector entities namely, Canara Bank, IDBI
Capital Market Services Limited, Life Insurance Corporation
of India, State Bank of India , UTI Asset Management
Company Private Limited, Securities Trading Corporation of
India Limited and Punjab National Bank.
NOTE- Pension Fund Regulatory and Development Authority was
established by the Government of India on 23rd August 2003
to promote old age income security by establishing,
developing and regulating pension funds, to protect the
interests of subscribers to schemes of pension funds and
for matters connected therewith or incidental thereto.
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