EPFO Custodian Change: New Partner Agencies After 15 Years
Why in the news
The Employees’ Provident Fund Organisation is selecting fresh partner agencies and a new custodian, the first replacement in close to 15 years.
About EPFO
- Statutory body under the Ministry of Labour and Employment.
- Runs EPF, EPS and EDLI.
- Among the world’s largest social security organisations.
Custodian
| Item | Detail |
|---|---|
| Role | Safeguards securities such as bonds and equities, settles trades, keeps records, supports investment operations |
| Current custodian | Standard Chartered Bank, since November 2011 |
| Funds handled | ₹31 trillion corpus |
Exam angle
- Parent ministry: Labour and Employment.
- Schemes: EPF, EPS, EDLI.