 "SEBI")
 "SEBI")
 "Rs, Rupee, Indian Currency")
 "NABARD, Nabard")
 "Finance Ministry")
 "FDI")
 "Nirmala Sitharaman, Nirmala")
EPFO subscribers may get services at par with banking, including ATM access
Subscribers of the retirement fund body EPFO may soon be able to get services at par with banking system and use ATMs to withdraw their claim amount, a top official said on Friday. Union Labour Secretary Sumita Dawra told PTI that focus right now in EPFO (Employees' Provident Fund Organisation) is to improve the IT infrastructure. "While improvements are being seen in last few months, in January 2025 we will see more improvement coming in as a result of hardware upgradation," she said. The secretary said that the efforts are being made to bring systemic reforms that make processes easier and efficient. "As part of this modernisation drive, we also aim to compare EPFO systems with the banking systems in India that are in place and are working well. For ease of living, bringing more transparency and ease of claims is also part of the plan," she said. Under the new system, claimants, beneficiaries or insured individuals will be able to access their claim amounts through ATMs. A maxi
 "EPFO, PF, Provident fund, savings")
 "Debt funds")
 "Alok Rungta, Future Generali India Life Insurance; Sharad Mathur, Universal Sompo General Insurance; Sumit Bohra, GlobeSecure Insurance Brokers; Mayank Bathwal, Aditya Birla Health Insurance")
 "The insurance sector is at a critical juncture. Despite impressive growth in premium income – from Rs 1 trillion in FY05 to more than Rs 6.7 trillion in FY24 – the sector has yet to fully realise its potential in terms of broader penetration and impr")
 "Max Life Insurance")
