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Industry News

November 2025

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BANKING FINANCE

1.4 crore Aadhaar numbers deactivated to prevent identity fraud

The Unique Identification Authority of India (UIDAI) has deactivated over 1.4 crore Aadhaar numbers linked to deceased individuals across India as part of an ongoing cleanup initiative to curb identity theft and misuse of government benefits.

UIDAI CEO Bhuvanesh Kumar said, "Deactivating Aadhaar numbers of the deceased is essential to preserve the credibility of welfare schemes and prevent misuse. It ensures that public funds are not siphoned off through fake claims or identity fraud." The drive, launched in mid-2024, aims to deactivate two crore Aadhaar numbers by December 2025.

Officials said the process faces hurdles since Aadhaar is not mandatory for death registration, creating significant data gaps. "Many death records either don't include Aadhaar numbers or contain incorrect or poorly formatted information," a UIDAI official noted. The initiative seeks to ensure accurate identification and prevent benefits from being disbursed to the deceased.

EPFO launches ‘Passbook Lite’ to simplify PF tracking

The Employees' Provident Fund Organisation (EPFO) has launched a new feature called 'Passbook Lite' to simplify account access and speed up claims processing for members. Union Labour and Employment Minister Mansukh Mandaviya announced the feature, noting that all key EPFO services will now be available through a single login, improving transparency and efficiency for more than 70 million pension subscribers.

Previously, members had to log in to a separate website to view contributions and balances. Passbook Lite now offers a summary view of PF accounts directly on the EPFO website, enabling users to check essential details without switching portals. The traditional passbook website will continue to offer detailed transaction insights for members who need deeper analysis.

المزيد من القصص من BANKING FINANCE

BANKING FINANCE

Indian women rank high Al skills globally, but top roles held by men

The penetration of AI skills is highest among Indian women than anywhere else globally, data from the recent Stanford AI Index suggests.

time to read

1 mins

May 2026

BANKING FINANCE

SEBI eases fundraising norms for social enterprises

The Securities and Exchange Board of India has introduced key relaxations to strengthen the Social Stock Exchange (SSE) framework and improve fundraising avenues for not-for-profit organisations (NPOs).

time to read

1 min

May 2026

BANKING FINANCE

Capacity building in cooperative and rural banks: A detailed analysis

Cooperative and rural banks occupy a vital position in India's financial architecture.

time to read

4 mins

May 2026

BANKING FINANCE

RBI proposes bank account portability for customers

Reserve Bank of India is planning to introduce account portability, allowing customers to switch banks without changing their account numbers.

time to read

1 min

May 2026

BANKING FINANCE

Mutual fund SIP inflows hit record Rs. 32,087 crore in March

Systematic Investment Plan (SIP) inflows in mutual funds surged to an alltime high of Rs. 32,087 crore in March, marking an 8% increase from Rs. 29,845 crore in February, according to industry data.

time to read

1 min

May 2026

BANKING FINANCE

Vinay Tonse takes charge as YES Bank MD & CEO

YES Bank has appointed Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer, effective April 6, 2026, for a three-year term.

time to read

1 min

May 2026

BANKING FINANCE

BANKING FINANCE

Cryptocurrency and Indian Banking: Opportunities, Risks, and the Road Ahead

Cryptocurrency is a digital currency that uses cryptography for secure transactions and runs on blockchain technology.

time to read

8 mins

May 2026

BANKING FINANCE

Bharti Airtel becomes world's second-largest telecom operator

Bharti Airtel has crossed 650 million users globally, emerging as the secondlargest telecom operator by subscriber base, according to GSMA Intelligence.

time to read

1 min

May 2026

BANKING FINANCE

Unclaimed deposit payouts surge after RBI campaign

Reserve Bank of India said payouts of unclaimed deposits have surged significantly following targeted campaigns and incentive schemes. Monthly payouts rose to Rs. 760 crore from October 2025 onwards, compared to Rs. 180 crore during April-September 2025.

time to read

1 min

May 2026

BANKING FINANCE

The Evolution of RPA in Finance: From Task Automation to Strategic Decision Making

Robotic Process Automation has significantly transformed the financial services sector.

time to read

2 mins

May 2026

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