1.What are the latest developments in EPF space?

EPFO adds 14.93 lakh members in December 2022, 2% higher YoY

The provisional payroll data of Employees' Provident Fund Organisation (EPFO) released on
Monday highlighted that the body has added 14.93 lakh members in the month of December,
2022.

2.Find few of the pension plan offered by insurance company?

Max Life Smart Secure plan is a non-linked, non-participating, individual pure risk premium life
insurance plan that is specifically designed to fulfill the growing financial needs of a family and
acts as a savior to create a financial net around the family.
With Max Life Smart Secure Plan the insured gets two death benefits, including a cover for
terminal illness and an exit value. In addition, this plan also provides optional benefits such as
premium breaks, joint life cover, additional payout on accidental death and much more.
Continue reading to explore more about the Max Life Smart Secure plan and its benefits:
Eligibility Criteria of Max Life Smart Secure Plan
Age at Entry
Min: 18 years
Max:Regular pay: 65 years
Pay till 60: 44 years.
Max age at Maturity
Base Age: 85 years
ACI: 75 years
Accident Cover: 85 years
Policy Term
Base Cover- Min: 10 Years| Max: 67 Years
ACI- Min: 10 Years| Max:50 Years
Accident Cover- Min: 5 Years| Max: 67 Years
Premium Payment Options
Single, Regular, Limited
Minimum Sum Assured
Death Benefit: 20 lakh
ACI Benefit: 5 lakh
Accident Cover: 50,000

LIC Tech Term Plan

LIC's Tech Term plan is a non-linked, non-participating online, pure risk premium plan, that
provides financial protection to the insured's family in case of the demise of the policyholder
during the policy term. The plan was introduced by LIC to facilitate easy access to term plans for
those looking to buy from the comfort of their homes. In addition to covering potential financial
expenses of the insured's family, the Tech Term plan comes with additional benefits in the form
of riders for enhanced coverage.
Continue reading to explore more about the LIC Tech Term plan, its benefits and many more:
Eligibility Criteria of LIC Tech Term Plan
Entry Age
Min: 18 years
Max: 65 years
Max age at Maturity
80 years
Policy Term
10 to 40 years
Premium Payment Options
Single premium, Regular premium, Limited premium
Minimum Sum Assured
Rs. 50,00,000

3.Total Number of Demat accounts with CDSL & NSDL in India?

CDSL Update as on Jan 31, 2023

Live Companies 19,926
Depository Particpants 585
DP Locations 20,288
Investor Accounts 7,96,78,585
(Excl. Closed Accounts)
NSDL
Investor Accounts3,07,83,425DP
Service Centres58,939
Demat Custody Value321.45 (₹ Lakh Crore)
(US$ 3929 billion)

4.What are Business Correspondents?

Business Correspondent is an extended arm of the Bank Branch who is providing Financial and
Banking services to the customers in unbanked and underbanked areas.

5.What is BCSBI?

Banking Codes and Standards Board of India (BCSBI)

It is “An independent and autonomous watch dog to monitor and ensure that the Banking
Codes and Standards adopted by the banks are adhered to in true spirit while delivering their
services”
6.What are Emu Farm Schemes?

The firms offered two investment schemes. Under the farm scheme, the company promised to
construct a shed and provide six emu chicks, fodder and medicines for Rs 1.5 lakh investment.
The investors were promised monthly incentive of Rs 6,000 and yearly bonus of Rs 20,000. It
promised to return the invested amount by the end of the second year. Under the VIP scheme,
the company promised to rear emu chicks on behalf of those who invest Rs 1.5 lakh. The
depositors were promised Rs 7,000 monthly incentive and Rs 25,000 yearly bonus for two
years, when the deposit would be returned.

As many as 374 people invested Rs 5.62 crore in the company, which failed to fulfil its promises.

7.On which rate does bank offer credit to one another?

Call money rate is the rate at which short term funds are borrowed and lent in the money
market.

8. Financial Inclusion & Kenya.

The advent of mobile phone accounts is undoubtedly one of the most important developments
since the 2006 survey. In April 2007, Safaricom, Kenya’s dominant mobile phone provider
launched Kenya’s first mobile phone account, M-PESA1 . M-PESA accounts for the lion’s share
of the growth in access to formal financial services since 2006. The FinAccess survey estimated
5.3 million registered M-PESA customers, which equals 25 percent of the adult population. This
is consistent with Safaricom’s reported figure of 5.4 million customers as of January 2009. Close
to half of its customers are in the formally included category exclusively on the basis of being
registered M-PESA users. This accounts for 85 percent of the increase in the formally included
category over the period between the two surveys. Adoption of M-PESA is more widespread
among men than women, although the difference is not large. As might be expected, there is a
higher rate of adoption among young people and the better educated. It is highest among the
18- 24 age group at 38 percent, falling to 14 percent among the over 65.