A female professor from TMBU, Bhagalpur, lost ₹47.60 lakh in an online fraud. During the investigation, police found that employees of a big private bank in Rajasthan helped the criminals. Shockingly, the fraudsters withdrew ₹33 lakh in one attempt. This discovery forced the police to look deeper into bank involvement.

Police teams are now questioning multiple employees. Officers plan to inform RBI and speak with senior officials of the private bank. The link between bank staff and criminals has made the case stronger.

Normally, banks confirm big withdrawals of ₹5 lakh or more by calling the account holder. But here, the employee only made a short call to the registered number for a few seconds and still allowed the withdrawal. The rule became a formality, and the money was released without proper confirmation. This raised serious doubts about employee cooperation in the fraud.

The post Cybercrime Bank Responsibility: How Banks Are Linked to Online Fraud appeared first on India Podcast.

To tackle fraud in the financial sector, SEBI and NPCI have launched dedicated UPI handles for registered intermediaries. Major brokers covering over 90% of investors and all mutual funds have enabled these secure handles.

The SEBI Check platform allows investors to verify UPI IDs and bank accounts of registered intermediaries before making payments. This ensures privacy, security, audit trails, and quick detection of mismatches.

FM Sitharaman emphasized responsible regulation, innovation, and growth in the FinTech and AI sectors. India now contributes 16% of global AI talent and aims to become a hub for AI-enabled products and services.

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Around 9.79 lakh new subscribers were enrolled in July. Most belong to the 18-25 age group, contributing 61.06 per cent of new members, reflecting first-time job seekers joining the workforce. Net payroll additions in this age group stood at 9.13 lakh, up 4.09 per cent from last year.

Around 16.43 lakh members rejoined EPFO after switching jobs, showing a 12.12 per cent growth year-on-year. They transferred their accumulations instead of taking final settlements, ensuring long-term financial security and social protection.

Female participation rose with 2.80 lakh new female subscribers. Net female payroll additions reached 4.42 lakh, showing inclusive workforce growth. Maharashtra led with 20.47 per cent of net payroll, while Karnataka, Tamil Nadu, Gujarat, Haryana, Delhi, Telangana, and Uttar Pradesh also contributed significantly.

The post EPFO Adds 21 Lakh Members in July appeared first on India Podcast.

On Monday, Seethakka and Animal Husbandry Minister Vakiti Srihari launched the distribution of fish vending vehicles at Pragathi Bhavan. The program is designed to improve women’s livelihoods. In the first phase, the government gave away 31 vehicles through SERP. With encouraging results, it distributed another 36 vehicles in the second phase.

Seethakka said women are entering over 20 businesses, including petrol bunks, solar companies, Indira Mahila Shakti canteens, and event management firms. She noted that fish vending vehicles are helping women earn nearly ₹8,000 per day. Apart from selling live fish, they prepare fried fish and pickles, which are in high demand for their taste and quality.

She added that Indira Mahila Shakti canteens are promoting “a mother’s cooking” and building a strong brand identity. Women’s groups, she explained, give members both financial security and social support. Each member can access loans and insurance up to ₹2 lakh, offering protection during difficult times.

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