In a bid to protect subscribers' interest, regulator PFRDA has asked pension funds to maintain their mutual fund holdings with custodian SHCIL.
The Stock Holding Corporation of India (SHCIL) is the custodian of 'securities for custody' of the securities pertaining to the funds under management of all schemes of the National Pension System and Atal Pension Yojna.
In an advisory, the Pension Fund Regulatory and Development Authority (PFRDA) said it has come to notice that "some pension funds" are not keeping some of the securities particularly mutual funds units with the appointed custodian.