EPFO to Auto-Refund Small Unclaimed Balances in Pilot
The EPFO will automatically refund money from nearly 7 lakh small-balance inoperative accounts without paperwork, transferring up to Rs 1,000 to Aadhaar-linked bank accounts in a new pilot.
Category : Banking
Jalandhar EPFO Settles 1.54 Lakh Claims, Disburses Rs 465 Cr
The Employees' Provident Fund Organisation in Jalandhar processed over 1.54 lakh claims in 2025, disbursing a substantial Rs 465 crore to beneficiaries, showcasing efficient service delivery.
Sebi Revamps PMS Rules by 2026, Plans IPO Trading System
Sebi chairman Tuhin Kanta Pandey announces comprehensive review of portfolio management regulations by mid-2026 and explores formal system for trading IPO-bound company stocks to curb grey market activity.
IDFC First Bank Rs 590 Crore Fraud, CEO Vows Profitability
IDFC First Bank reports a Rs 590 crore fraud in Haryana govt-linked accounts via employee collusion at its Chandigarh branch. CEO V Vaidyanathan assures profitability despite the hit, with KPMG forensic audit underway.
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CBI Case: Rs 2.81 Crore Post Office Savings Scam in Bharuch
CBI files case against 12 postal officials for allegedly diverting Rs 2.81 crore from small savers' POSB accounts in Bharuch. Funds rerouted via internal employee accounts using digital transfers.
Sitharaman Warns Banks on Insurance Mis-Selling
Finance Minister Nirmala Sitharaman sternly warned banks to stop mis-selling insurance products and focus on core banking services. RBI's new norms from July will mandate refunds and compensation for affected customers.
Nashik's Rs 200 Crore Green Bonds to List on NSE, BSE
Nashik Municipal Corporation will list Rs 200 crore green bonds on NSE and BSE to fund water treatment expansion for Simhastha Kumbh Mela and future needs, offering 8.05% coupon rate.
Star Health: 50% Demand Jump Post-GST Cut, Coverage Up
Star Health and Allied Insurance reports a 50% increase in new health insurance policy demand and a 25% rise in average sum insured coverage following the GST rate reduction, with CEO Anand Roy detailing growth.
IDFC First Bank Rs 509 Crore Fraud Unfolded in Haryana
A Rs 590 crore discrepancy in Haryana government accounts triggered a 20% crash in IDFC First Bank shares, raising concerns about the Indian banking sector's stability. The CM vows recovery.
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No Roadmap for Public Sector Bank Mergers: Sitharaman
Finance Minister Nirmala Sitharaman clarified that the government has no active roadmap for merging public sector banks, though a new banking reform committee will review the sector's future.
Sitharaman: Banks Spend Too Much Time Selling Insurance
Finance Minister Nirmala Sitharaman has raised concerns that banks are increasingly focusing on selling insurance products, potentially neglecting their primary banking duties and customer service.
RBI Office Attendant Admit Card 2026 Released for 572 Posts
The Reserve Bank of India has issued the Office Attendant Admit Card 2026 for the upcoming recruitment exam. Candidates can download hall tickets from rbi.org.in for exams on February 28 and March 1, 2026.
EPFO to Return Unclaimed Funds to 3.1 Million Subscribers
The Labour Ministry has launched an initiative to return unclaimed funds from inoperative EPFO accounts, benefiting over 3.1 million subscribers. A pilot phase for 0.7 million accounts will begin soon.
AU Small Finance Bank Earns Great Place to Work Award Sixth Year
AU Small Finance Bank has been certified as a Great Place to Work for the sixth consecutive year, highlighting its commitment to employee satisfaction and organizational culture.
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Bitcoin Slumps as Trump Tariffs Spark Risk-Off Sentiment
Bitcoin fell 2%, briefly dipping below $65,000, as market unease and Trump's new global tariffs pressured crypto assets. Crypto-linked stocks like Coinbase also declined.
Sitharaman Warns Banks: Mis-Selling Now an Offence Under BNS
Finance Minister Nirmala Sitharaman warns banks against mis-selling financial products, stating it's now an offence under Bharatiya Nyaya Sanhita. RBI's new draft guidelines mandate full refunds for customers.
Rupee Gains 7 Paise, Closes at 90.87 vs US Dollar
The Indian rupee appreciated by 7 paise to settle at 90.87 against the US dollar in forex trading. It opened at 90.76 and fluctuated between 90.67 and 90.89 during the session.
Bitcoin Bonds Listed on Wall Street, DeepSnitch AI Presale Attracts Investors
Bitcoin bonds have been officially listed on Wall Street, marking a significant milestone for cryptocurrency integration into traditional finance. Simultaneously, the DeepSnitch AI project's presale is drawing substantial investor interest ahead of its pl
RBI Auctions ₹44,500 Cr State Govt Securities, 16 States Join
The Reserve Bank of India will auction state government securities worth ₹44,500 crore on February 24, with 16 states participating to raise funds for development and infrastructure projects.
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IDFC First Bank Profitable Despite Rs 590 Crore Fraud Hit
IDFC First Bank expects to remain profitable after provisioning for a Rs 590 crore fraud in Haryana government-linked accounts at its Chandigarh branch, involving employee collusion and forged cheques.
IDFC First Bank Stock Drops 20% After Rs 590 Cr Fraud
IDFC First Bank's stock price plummeted by 20% after the bank disclosed a fraud of Rs 590 crore. The amount represents about 0.9% of the bank's net worth and 20% of its estimated FY26 pre-tax profit.
Rs 590 Crore Fraud at IDFC Bank Targets Haryana Govt Funds
A massive fraud of Rs 590 crore at IDFC Bank has targeted funds of the Haryana government, with the Reserve Bank of India closely monitoring developments as investigations unfold.
IDFC First Bank Stock Tumbles 20% After Rs 590 Cr Fraud
IDFC First Bank's stock price plummeted by 20% after the bank disclosed a significant fraud amounting to Rs 590 crore, raising concerns about internal controls and governance.
IDFC Bank: Staff Collusion in Haryana Fraud, Profit Solid
IDFC Bank reveals staff collusion led to fraud in a Haryana government account but expects strong Q4 profitability despite provisions, as stated by CEO Vaidyanathan.
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Gold Prices Under Watch: Sitharaman Assures Monitoring
Finance Minister Nirmala Sitharaman states the government is closely monitoring gold prices, which have not crossed certain limits, amid market volatility and economic concerns.
RBI Watching IDFC First Bank Fraud, No Systemic Issue
RBI Governor Malhotra states the central bank is closely monitoring the fraud case at IDFC First Bank but confirms no systemic banking issues. The focus remains on regulatory oversight and financial stability.
Gold Futures Hit Rs 1.59 Lakh per 10 Grams Amid Global Cues
Gold futures in India have rallied sharply, reaching Rs 1.59 lakh per 10 grams, driven by robust global cues and market optimism. This significant price movement reflects heightened investor interest and economic factors influencing precious metals.
Bombay HC Allows Banks' Appeal Against Anil Ambani in Fraud Case
The Bombay High Court overturned interim relief for Anil Ambani, allowing banks and BDO India LLP to proceed with fraud allegations based on a 2020 audit, impacting his credit access.
RBI on IDFC First Bank Fraud: No Systemic Issue
RBI Governor Sanjay Malhotra addresses the Rs 590 crore fraud at IDFC First Bank, involving Haryana government accounts. CEO V. Vaidyanathan details collusion, provisions, and recovery measures, with KPMG forensic review underway.
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Avendus Third Credit Fund Secures Rs 2,200 Crore, Eyes Rs 4,000 Crore
Avendus has raised over Rs 2,200 crore for its third credit strategy fund, targeting a total corpus of Rs 4,000 crore. The fund has already deployed 60% of capital across diverse sectors, with increased investor commitment.
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