The National Pension Scheme, adopted in 2004, has recently come under criticism for inadequate returns, leading to a few state governments reverting to an earlier pension plan considered fiscally unviable.
Benchmark indices ended Thursday's volatile session lower with Nifty below 17,200 after Federal Reserve in its policy outcome indicated interest rate hikes in the near future. At close, Sensex was down 581 points, while Nifty settled 168 points lower. Among sectors, the PSU Bank index was up 5 percent, while auto and bank indices rose 0.3-1 percent. However, FMCG, realty, pharma, and IT indices shed 1-3 percent.
Reliance, Power Grid and NTPC were the top gainers on the index, while pharma stocks, Grasim and Tech Mahindra were the top losers on the index.
Equity benchmarks shed morning gains as investors may have looked to book profits. The Nifty is holding on to its 8900-mark
HDFC Bank and ITC dragged the Sensex lower as they were the top negative contributors to the Sensex, while ITC and Bharti Infratel were the top negative contributors on the Nifty.
ICICI Lombard and CNBC-TV18's India Risk Management Awards honour organisations that have constantly evolved and created new growth benchmarks while managing risks effectively.
At 10.44 hrs IST, the Sensex was up 30.15 points or 0.16% at 19335.47, and the Nifty up 8.25 points or 0.14% at 5879.20. CNX Midcap continues with its outperformance since yesterday, and was up about 1% .