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      Question

      OASIS with reference to PFRDA Act stands

      for_____________
      A Old age security Correct Answer Incorrect Answer
      B Old age income security Correct Answer Incorrect Answer
      C Old age social security income Correct Answer Incorrect Answer
      D Old age social & income security Correct Answer Incorrect Answer
      E Old age pension and income social security Correct Answer Incorrect Answer

      Solution

      The Government of India had, in the year 1999, commissioned a national project titled "OASIS" (old age social & income security) to examine policy related to old age income security in India. Based on the recommendations of the OASIS report, Government of India introduced a new Defined Contribution Pension System and on 23 August 2003, Interim Pension Fund Regulatory & Development Authority (PFRDA) was established through a resolution by the Government of India to promote, develop and regulate pension sector in India.

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