RBI may oversee EPFO, Post Office bank after govt's push: Report
Post Office Savings Bank (POSB) and Employees’ Provident Fund Organisation (EPFO) could soon come under RBI's oversight, The Indian Express reported. Government has separately approached the central bank, seeking its oversight and technical guidance on both entities. In the case of the Department of Posts, the move follows the uncovering of a ₹96-crore scam involving fraudulent operations in POSB.