Question
Which body was established to supervise and regulate the
pension sector in India, based on the recommendations of the OASIS report?Solution
Explanation: Section 1. Short title, extent and commencement: (3) (3) It shall come into force on 1st February, 2014. Pension Fund Regulatory and Development Authority is the regulatory body under the jurisdiction of Ministry of Finance, Government of India for overall supervision and regulation of pension sector in India. It was established through a resolution by the Government of India to promote, develop and regulate pension sector in India based on the recommendations of the OASIS (Old age social and income security) report.
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