09 January 2017 Current Affairs: SBI Pension Funds, a subsidiary of State Bank of India, has appointed Kumar Sharadindu as its managing director and chief executive.
SBI Pension Funds is one of the three pension fund managers appointed by the regulator PFRDA to manage the pension corpus of employees enrolled under the National Pension System for government employees.
Prior to this assignment, Sharadindu was a general manager at SBI Corporate Centre, Mumbai, heading the private equity business. He has held several crucial assignments in his banking career spanning over three decades in areas of credit, treasury, risk and large corporate lending.
SBI Pension Funds had an AUM Rs 46,019 crore as of March 2016, representing a growth of 47 per cent over the previous fiscal, and is the seventh largest pension fund manager in terms of market share and 35 per cent its AUM comes from the government sector.