Page 2 - Cash Transfers
EPFO launches facility for bulk transfer of funds from exempted trusts
Retirement fund body EPFO has launched a facility for bulk transfer of funds from exempted establishments through a single payment. Exempted establishments are those which have been granted exemption under Section 17 of EPF & MP Act, 1952 and manage the provident fund of members themselves under overall supervision of the Employees' Provident Fund Organisation (EPFO). "Apurva Chandra, Secretary (Labour & Employment) launched a new facility of bulk transfer of funds and data from exempted trusts to EPFO through a single payment, during his first visit to EPFO headquarters, on 7th October, 2020," a labour ministry statement said. EPFO has now released the functionality for bulk transfer of funds from exempted establishments to EPFO through a single payment. This facility will enhance ease of doing business by increasing the speed of funds transfer for exempted establishments. On change of employment of a member from exempted to unexempted establishment, his past accumulations ...
 "EPFO launches facility for bulk transfer of funds from exempted trusts")
Woman member of poor family will get Rs 830 each month: Assam govt
The Assam government on Wednesday announced that a minimum sum of Rs 830 per month would be deposited in the bank account
 "Woman member of poor family will get Rs 830 each month: Assam govt")
Centre considering extending cash support schemes for poor beyond June
These include cash assistance of Rs 500 per month given to 200 million women with Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts
 "Centre considering extending cash support schemes for poor beyond June")
Covid-19: UP transfers cash to bank accounts of 2.3 million poor
State identifying more beneficiaries for the Rs 1,000 relief
As migrants grow restless in lockdown, govt weighs cash transfer option
State governments told to expedite data collection of migrant labour
 "As migrants grow restless in lockdown, govt weighs cash transfer option")
Govt evaluating cash transfer scheme to reduce coronavirus impact
Given the nature of cash transfer plans, the govt would need large revenues and may have turn a blind eye to the fiscal deficit
Banks may seek consent before allowing transfer of funds to your account
The move is a follow-up to instances of illicit deposits - after demonetisaton - in bank accounts opened under the Pradhan Mantri Jan-Dhan Yojana
 "Banks may seek consent before allowing transfer of funds to your account")
Cash transfers may not suit all beneficiaries: Report
Economists Maitreesh Ghatak of London School of Economics, Chinmaya Kumar and Sandip Mitra studied Bihar's Mukhyamantri Cycle Yojana
 "Cash transfers may not suit all beneficiaries: Report")