<ul><li>The EPFO has expanded its empanelled banking network by adding 15 more banks.</li><li>This will enable direct payment of nearly ₹12,000 crore in annual collections and provide access to employers who maintain accounts with these banks.</li><li>The total number of empanelled banks now stands at 32, with the addition of HSBC, Standard Chartered, Federal Bank, and others.</li><li>EPFO's evolution and recent implementations such as EPFO 2.01 have improved claim settlements, with a 35% increase in claims settled in FY 2024-25.</li></ul>

EPFO expands empanelled banking network, adds 15 more banks

Discover more