“There are 4 pillars of retirement income namely, social security, employment-based plans, personal retirement assets and family / social structure. Social security in India is not as developed or as widespread as the ones in advanced countries. Only people working in the organized sector and for the government are eligible for employment-based pension plans,” says Suresh Soni, CEO, Baroda BNP Paribas Mutual Fund.
Uday Kotak lauds MUFG stake buy in Shriram Finance but flags big question on next move
Uday Kotak welcomed MUFG Bank’s Rs 39,618 crore investment in Shriram Finance, questioning whether it should remain an NBFC or eventually seek a banking licence