SBI to cease to be EPFO fund manager

SBI to cease to be EPFO fund manager

December 06, 2018

  • State Bank of India (SBI) will cease to be a fund manager of retirement fund body EPFO by the end of March 2019.
  • According to RBI rules, a bank cannot function as an asset management company.
  • Currently, SBI, ICICI Securities Primary Dealership, Reliance Capital, HSBC AMC and UTI AMC are fund managers of the EPFO.
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