Mumbai, Feb. 13 -- Having allowed banks to sponsor pension funds under the National Pension System (NPS), Chairman of the Pension Fund Regulatory and Development Authority (PFRDA) Sivasubramanian Ramann, has said that the playing field is level for all sponsors, including Asset Management Companies.

"The playing field is totally level. It is level for all sponsors. The change we have made is that we have allowed banks to become a sponsor of a pension fund. Earlier, it was only insurance companies and AMCs that could be the sponsor. So once you're a sponsor, there is no difference between any of the sponsors," Ramann told ANI.

"Banks had expressed their desire to become the sponsor and therefore we have allowed the banks to become the sp...