inactive accounts
- H
EPFO Plans Direct Transfer of Funds from Dormant PF Accounts
EPFO to Automate Recovery of Unclaimed Funds, Targeting Rs 5,200 Crore New Delhi – The Employees’ Provident Fund Organisation (EPFO) is preparing to significantly increase efforts to recover unclaimed funds held in inactive accounts. The organization plans to implement an automated settlement...- Himanshu
- Thread
- aadhaar linked bank accounts account dormancy automated settlement system banking employees provident fund organisation epf deposits epfo financial recovery financial transactions inactive account criteria inactive accounts india interest rates retirement unclaimed funds
- Replies: 0
- Forum: Business
- H
HSBC Faces Penalty Over Inactive Account Management
Mumbai, March 20 The Reserve Bank announced on Friday that it has imposed a fine of ₹31.8 lakh on Hongkong and Shanghai Banking Corporation for non-compliance with certain directions related to inactive accounts and unclaimed deposits.In a statement, the Reserve Bank said that a statutory...- Himanshu
- Thread
- banking regulations central bank depositor education and awareness fund financial penalty hongkong and shanghai banking corporation inactive accounts india mumbai rbi regulatory compliance reserve bank of india statutory compliance supervisory inspection udrn unclaimed deposits
- Replies: 0
- Forum: Business