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UNIVERSAL KYC
Rs 7 lakh life insurance cover at zero premium, which very few EPF members are aware of; check how to claim when neededEmployees' Provident Fund contributions offer a life insurance cover of up to Rs 7 lakh through the EDLI scheme, at no extra premium. This ...
Can salary-linked SIPs transform mutual fund investing for salaried Indians? Experts weigh inSebi has proposed a framework allowing salaried employees to invest in mutual funds through salary deductions, similar to EPF and NPS. This...
Born out of microfinance, Bandhan Bank now bets big on AI and digital bankingAs Bandhan Bank accelerates its transition from a microfinance-led institution into a universal bank, Executive Director & COO Ratan Kumar ...
Why India cannot build a world-class fintech champ yetIndia boasts world-class digital finance but lacks global consumer fintechs. Regulatory hurdles prevent innovation, unlike in markets with ...
‘Most Indians retire asset-rich but income poor’: Edelweiss MF’s Radhika Gupta on retirement planning, SIP resilience, lifecycle funds, and simple investingOne of the industry’s most recognisable voices on investing, Radhika Gupta, MD and CEO, Edelweiss Mutual Fund, has helped shape both her fu...
Financial sector regulators to work on universal KYCFinancial sector regulators, led by the RBI, are developing a universal KYC framework with the CKYCR to streamline verification processes. ...
Digital access intrinsic part of Right to Life under Article 21: SC directs simplification of KYC process for persons with disabilitiesThe Supreme Court has declared digital access a fundamental right, emphasizing its importance under Article 21. The court issued directives...
PSU banks plan common video KYC hubState-run banks are planning to establish a common video KYC hub to integrate their processes with the central KYC registry (CKYCR) to enha...
How to update bank account details in EPF accountThere may be a delay in processing withdrawal claims if the EPF account's mentioned bank account number is closed or inactive. Here are sim...
How to update KYC in your EPF accountOne of the main reasons for EPFO rejecting the EPF withdrawal claim is incomplete KYC. Therefore, to avoid rejection by the EPFO, it is imp...
EPFO updates KYC details of 73.58 lakh members in Apr-JunFurther, to enable KYC seeding on such large scale, the Employees Provident Fund Organisation (EPFO) has also undertaken massive exercise o...
EPFO updated KYC data for 52.62 lakh subscribers in April, MayThis includes Aadhaar seeding for 39.97 lakh subscribers, mobile seeding (UAN activation) for 9.87 lakh subscribers and bank account seedin...
Data empowerment will help all: Nandan NilekaniNilekani says digital infrastructure will play a key role in reviving the economy.
KYCs of over 50% EPF subscribers not seeded with UANThe government has directed all establishments covered under EPFO to get 100% KYC seeded with UANs of the PF Members. Seeding of these KYC ...
Yet another chapter in the saga of strange KYC rulesThe in-person KYC is an example of a mindless bureaucratic procedure which has no real impact on actually achieving its purported goal.
Budget 2015: Address tax discrimination against pension and annuities"Finance minister in his maiden budget speech had announced the concept of Universal KYC and a single demat account across asset classes," ...
RBI's Raghuram Rajan softens stance on Jan Dhan, says its a welcome scheme"We welcome the Jan Dhan, it is part of RBI's plan to get universal access," he told as he announced bi-monthly monetary policy.
EPFO targets to make UANs operational by October 15"We have already allocated Universal Account Numbers (UANs) to 4.17 crore members on July 25, but it is without data."
EPFO issues 4.17 cr UANs for seeding with workers' KYCsInitiating the process of providing portable Universal Account Numbers to members, retirement fund body EPFO today issued 4.17 crore UANs t...
Financial inclusion must be available to every citizen, say expertsFinancial inclusion is a must for a welfare state and for ensuring inclusive growth for all said, Lucknow University, Vice Chancellor, Prof...