RBI fines Canara Bank for violations related to KYC, inactive accountsThe Reserve Bank of India has taken action against Canara Bank, slapping a substantial Rs 41.8 lakh fine for failing to comply with Know Yo...
Senate rejects first effort to bar Trump from creating $1.8 billion settlement fundSenate Republicans are facing challenges in passing funding for President Donald Trump's immigration agencies. Democrats are pushing for vo...
Have unclaimed deposits, insurance, mutual funds? Government launches single portal to trace forgotten assetsThe Ministry of Finance has launched a new portal to help citizens find forgotten money. This initiative, called 'Your Money, Your Right', ...
Employee wins Rs 50,000 compensation from EPFO for 10-year delay in processing EPF transfer claimThe Chandigarh Consumer Commission ruled that the EPFO cannot use software issues as an excuse for a decade-long delay in transferring an e...
EPFO overhauls PF trust rules: Risk-based audits, 2% interest cap on exempted establishmentsNew rules are set for companies managing their own provident fund trusts. Mandatory annual audits are replaced by a risk-based system. Inte...
EPFO member alert! Have old, inoperative EPF account? E-PRAAPTI portal will soon help you track it easilyThe Employees Provident Fund Organisation is introducing E-PRAAPTI, a new digital portal. This platform will assist members in finding, tra...
EPFO may raise minimum pension under EPS-95; settles 83.1 million claims in 2025-26Labour and employment minister Mansukh Mandaviya, Wednesday, said that the Employees’ Provident Fund Organisation (EPFO) settled 6.103 mill...
EPFO plans auto-settlement to clear Rs 5,200 crore in inoperative accountsThe Employees' Provident Fund Organisation is developing an auto-settlement system. This will help subscribers claim unclaimed money from i...
PNB account holders beware! PSU bank set to close these accounts after April 15, 2026Punjab National Bank is warning account holders with inoperative accounts to complete their KYC by April 15, 2026. Failure to do so will re...
PAN-Aadhaar link deadline today: What will happen if your PAN becomes inoperative?PAN-Aadhaar link deadline: Linking your PAN and Aadhaar by December 31, 2025, is vital. Missing this deadline makes your PAN inoperative. T...
How to activate inoperative bank accounts in SBI, HDFC Bank, and PNB as RBI asks banks to reduce these accountsRBI has advised banks to urgently take the necessary steps to reduce the number of inoperative or frozen accounts and make the activation p...
Inoperative EPF accounts' total amount up 5 fold to Rs 8,505 cr in 6 yearsInoperative EPF accounts have seen a five-fold increase, reaching Rs 8,505.23 crore in FY24 compared to Rs 1,638.37 crore in FY19. The EPFO...
Latest EPFO rules: How to unblock inoperative EPF account, settle claimsThe EPFO has especially outlined the procedural complications involved in UAN generation/linking, KYC seeding, blocking, unblocking, and pa...
NRI’s inoperative PAN: List of documents required for making PAN operativeIf an NRI's PAN is still inoperative, he or she must inform the appropriate jurisdictional Assessing Officer of their NRI status and provid...
Inoperative doesn't mean inactive: Tax department allays NRIs' fear over PAN cardsWhile Non-Resident Indians NRIs are not required to obtain an Aadhaar number, the recent conclusion of the deadline for linking PAN and Aad...
How to activate an inoperative bank accountAn inactive bank account is termed inoperative. An account becomes inoperative if there are no transactions in the account for over two yea...
Settle inoperative PF accounts: EPFO to field officesRetirement fund body EPFO has asked its field offices to identify the beneficiaries of inoperative PF accounts and settle those either by m...