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SEPTEMBER - 2019
e-Nomination Facility for EPF Members
In a latest initiative, e-Nomination facility Further, a message is being displayed in
for Employees' Provident Fund (EPF) the login of the Member to file their e-
Members has been launched by the EPFO, Nomination. List of such employees who
Ministry of Labour & Employment, GOI, have not filed the nomination is also
on the Member Portal and Members
displayed in the login of the employer.
having Aadhar linked and verified
Under the MIS2.0 a dashboard has been
account, can file their nomination online.
provided for the list of such cases without
This was communicated vide the
e-Nomination.
M i n i s t r y ' s n o t i f i c a t i o n N o .
NDC/2017/UAN/361 dated 12.09.2019.
Sri Srinivas Asranna, President, PIA urged
The e-Nomination facility including the e-
sign facility has been developed by C-DAC. all the Employer-units in Peenya to inform
Filing of online Pension claims is their employees/EPF Members to file their
dependent on the availability of e- e-Nominations at the earliest since the
Nomination by the Member. Availability of upcoming claim settlement modules are
e-Nomination will also help in actuarial being designed to check this feature as
valuation of the Pension Fund. compliance.
Loan sanctions limit under Priority Sector by banks
enhanced to Rs 40 crore per Borrower
To boost credit supply to small advances to empower focused groups of
exporters, the Reserve Bank of India the economy. All sectors put together,
(RBI) has enhanced the loan sanctions this adds up to 42 percent of the total
limit under priority sector lending by lending for each Bank.
banks to Rs 40 crore per borrower.
Earlier, the limit was capped at Rs 25 Existing guidelines for domestic
crore per borrower. scheduled commercial banks to classify
'incremental export credit over
The RBI has also decided to remove the corresponding date of the preceding
existing criteria of 'units having turnover year, up to 2 percent of adjusted net bank
of up to Rs 100 crore' as part of the
changes. credit or credit equivalent amount of off-
balance sheet exposure, whichever is
The changes have been done "to boost higher' under PSL will continue to be
credit to the export sector", the central applicable, the RBI said.
bank said in the notification.
There is no change in the present
Priority sector lending is a mandatory instructions in respect of foreign banks,
requirement under which the banks are it added.
mandated to devote a portion of their
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