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[Cites 0, Cited by 0] [Section 5(1)] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(1)(g) in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018

(g)shall possess a two year track record of profitability (Profit after tax) as on the last day of the immediately preceding financial year; Provided that such condition shall not apply in respect of applicant(s) being (i)Scheduled Commercial banks (SCBs) holding license issued by the Reserve Bank of India, and proposes to conduct its activities under the Atal Pension Yojana, in which case the capital requirements, specified by the Reserve Bank of India shall be considered, in respect of losses incurred in the preceding years or (ii) an online marketing company distributing pension schemes or entities /departments/ministries of central & state governments.