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INOPERATIVE ACCOUNT
ITR filing 2026: 9 key checks every taxpayer must make for AY 2026–27India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...- 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...
- 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...
- Big relief proposed by RBI for account holders in activating an inoperative bank account or claiming unclaimed depositsThe Reserve Bank of India proposed on May 23, 2025, to ease access to inoperative accounts and unclaimed deposits. Banks will be required t...
- Govt says 11.30 crore inoperative Jan Dhan accounts have Rs 14,750 crore balance as of Nov 20Over 54 crore accounts have been opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) as of November 20, 2024. However, 11.30 crore acco...
- 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...
- RBI asks banks to bring down inoperative accounts urgently, report their numbers quarterlyThe RBI has directed banks to urgently reduce the number of inoperative or frozen accounts and make activation smoother. Banks should enabl...
- SBI customers: How to activate an inoperative SBI bank accountInoperative SBI bank account: The bank emphasised the importance of carrying out regular transactions in accounts and preventing categoriza...
- SBI launches nation-wide drive for activation of inoperative accountsSBI has started a nation-wide drive to raise awareness about inoperative account activation. Savings or current accounts with no transactio...
- 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...
- RBI issues new rules on inoperative, unclaimed savings accounts, FD, deposits: FAQs on how to claim, charges, interest to be paidThe Reserve Bank of India (RBI) has issued comprehensive guidelines on the measures to be implemented by the banks covering various aspects...
- RBI simplifies reactivation of dormant accounts; tightens norms to curb fraudsThe Reserve Bank of India (RBI) has relaxed the process for reactivating dormant accounts and increased norms to limit fraud in inoperative...
- EPFO to give interest on inoperative accounts from April 1Move will benefit the estimated nine crore inoperative accounts of subscribers switching jobs. Over Rs 30,000 crore is stuck in these accou...
- Inoperative account norms should be strictly followed: EPFOEPFO has asked its field formations to strictly follow guidelines while settling claims out of inoperative accounts in order to reduce the ...
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