FSDC, which was set up in December 2010 to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development, will hold its 15th meeting tomorrow, official sources said.
Pension fund regulatory body PFRDA will invest up to 2 percent of the corpus of the private sector pension plans into alternative investment fund schemes in order to bolster the returns to subscribers.
"Right now purchase of annuity attracts service tax so we have requested the government to do away with that, these are the two things we have asked the government to consider in the budget proposal", Contractor told reporters on the sidelines of the launch of a report on pension system by FICCI and KPMG.
Finance Ministry will go through the proposal seeking a hike in the investment limit of pension funds by up to 50 percent and then refer the matter to an expert committee, PFRDA has said.
Addressing a press meet, SBI's new chairman said, he would like to expand and consolidate the corporate banking business.