EPFO Enhances Investments and IT Systems to Boost Member Services
The Employees' Provident Fund Organisation (EPFO) has invested Rs 34,207.93 crore in ETFs during April-October 2024. EPFO manages a corpus of Rs 24.75 lakh crore, also implementing IT reforms like CITES 2.01 to improve claim processing and pension payments.
- Country:
- India
Retirement fund body EPFO has invested Rs 34,207.93 crore in exchange-traded funds (ETFs) during the April-October period of this fiscal year, Parliament was informed on Monday.
In a detailed response to the Lok Sabha, Minister of State for Labour and Employment, Shobha Karandlaje, revealed that the Employees' Provident Fund Organisation (EPFO) has significantly ramped up its investments, with a total of Rs 57,184.24 crore allocated to ETFs overall.
With a focus on modernizing its infrastructure, EPFO has implemented the Centralized IT Enabled System (CITES) 2.01, designed by C-DAC, to streamline claim processing and enhance the efficiency of member services.
ALSO READ
-
African Venture Capital Gets a Boost as Oxford Programme Builds Investor Connections
-
Services Trade Hits $9.6 Trillion, Opening New Doors for Developing Economies
-
Lee Jae Myung's Diplomatic Milestones: Balancing Amidst Global Tensions
-
Canadian Trade Minister Heads to India for Pivotal Economic Talks
-
Japan's Economic Crossroads: Takaichi's Bold Moves Amidst Debt Concerns
Google News