Pension regulator PFRDA has issued a Draft Risk Management Framework for the Central Record keeping Agencies (CRAs) under NPS architecture.
The Risk Management Framework for CRAs is a description of Authority’s expectations with respect to risk management governance, the organisation’s risk appetite and key elements of its risk management process.
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The stakeholders including CRAs have been given time till January 1 to provide their feedback/suggestions/inputs on the draft proposals.
The risk management framework provides guidance on the approach to managing risk in the NPS ecosystem so that the various risks associated with the functioning of CRAs do not result in any deficiencies in service to customers, disruption, or any issues effecting the integrity of record keeping, accounting, administration functions of the CRAs.
Currently, there are three CRAs registered with the Pension Fund Regulatory and Development Authority. They are Computer Age Management Services Ltd (CAMS), Protean eGov Technologies Ltd. (Formerly NSDL e-Governance Infrastructure Limited), and KFin Technologies Limited.
The…
