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It was pointed out that Bancassurance is in the form of a bank and a good arrangement has been put in place

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 between an insurance company, which then openly allows its products to be sold through

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the branch network to all the customers of the bank and all others.

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Speaking about the new line of business, Tripathi said, he has just entered into his Max Life Insurance pension

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fund management business as its subsidiary has contacted the Pension Fund Regulatory and Their

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Development Authority (PFRDA) for information. He has obtained certificate of commencement of all business from

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For your information today, let us tell you that through the Max Life Pension Fund, 

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the life insurance firm of Management Limited, which is its subsidiary, will manage the pension assets

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 along with its investment options under the National Pension Scheme.

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He also added that the fund manager is expected to start its operations very soon

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in the month of October, after it is set up with an initial capital of Rs 50 crore.

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He also said one more thing that for all the private sector customers of the pension fund and all

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 the government sector customers, leaving the 'default scheme' very soon, he will manage the pension assets, 

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 whose target was told in the next 10 years. The entire asset under management (AUM) is to be increased

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by Rs 1 lakh crore. As informed to you that this report pursuant to this report, only the title and image

image may be reworked by Business Standard staff; The rest of the content is generated automatically and from a syndicated feed