EPFO 3.0 Set to Launch by May-June: Will It Ease Withdrawal Challenges?

The Employees’ Provident Fund Organisation (EPFO) is preparing for a sweeping digital overhaul with the launch of Version 3.0. Scheduled to go live between May and June 2025, this upgrade aims to bring improved efficiency, ease of access, and faster claim settlements for over 9 crore members.

Union Labour and Employment Minister Mansukh Mandaviya announced the upcoming rollout, highlighting that the initiative is focused on providing “seamless and simplified services” through a robust IT infrastructure.

Key Features of EPFO Version 3.0

The EPFO 3.0 upgrade will introduce a range of user-centric features that aim to reduce paperwork and physical visits to EPFO offices. Some of the notable enhancements include:

  • Faster Claims Processing:
     Claims will be settled more swiftly, resulting in quicker fund transfers to members’ bank accounts.

  • ATM-Based Withdrawals:
     Members may be able to withdraw funds using ATMs, adding convenience and reducing dependency on manual claim processes.

  • Auto-Claim Settlements & OTP-Based Authentication:
     Services such as claim approvals and account updates will be managed through OTP-based verification, eliminating the need for filling out extensive forms.

  • Digital Corrections and Account Mandates:
     Members will be able to update personal and banking details digitally, streamlining the overall user experience.

Expanding Pension Accessibility

A significant development under EPFO’s broader reforms includes the Centralised Pension Payment System. This change now allows more than 78 lakh pensioners to receive benefits in any bank account of their choice, removing the previous limitation of using only zonal banks.

Additionally, there are ongoing discussions around integrating other social security schemes such as:

  • Atal Pension Yojana

  • Pradhan Mantri Jeevan Bima Yojana

Such integration could further bolster the pension ecosystem, especially for unorganised and informal sector workers.

Strengthening the Health and Social Security Net

Beyond pension reforms, the government has also set its sights on enhancing healthcare access. Under the new plan:

  • ESIC Beneficiaries:
     Will soon be eligible for free treatment in Ayushman Bharat-empanelled hospitals, expanding coverage to include charitable and private hospitals.

  • Inclusion of Gig Workers:
     A memorandum of understanding with Swiggy is set to open over 12 lakh job opportunities, with listings available on the National Career Service (NCS) portal. This signals a move to include gig economy workers within the social security framework.

A Focus on Grievance Redressal

EPFO has already made strides in addressing member concerns, with Version 2.01 significantly reducing grievance volumes. The upcoming 3.0 version is expected to further improve response times and issue resolution, creating a more member-friendly experience.

Read More: EPFO: Employers Can Now Pay Old EPF Dues via One-Time Demand Draft.

Conclusion 

The introduction of EPFO Version 3.0 reflects a broader governmental push towards digital-first governance and inclusive social security. By embracing technology, the organisation aims to make provident fund management more transparent, efficient, and accessible—paving the way for a new chapter in India’s social security landscape.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Gensol Crisis: Eversource Capital is in Talks to Buy BluSmart in ₹850 Crore Deal

As per news reports, Eversource Capital is in advanced discussions to acquire BluSmart, an electric ride-hailing platform, for ₹850 crore. 

 

The deal comes at a time when BluSmart is grappling with operational challenges, including suspensions in several cities, and its promoters are facing scrutiny over alleged financial misconduct linked to Gensol Engineering. The acquisition, if finalised, could reshape the future of the electric mobility startup amid ongoing investigations.

Eversource Eyes Acquisition of BluSmart Amid Operational Struggles

As per news reports, investment firm Eversource Capital is in advanced discussions to acquire BluSmart, an electric ride-hailing startup, for a proposed valuation of around ₹850 crore. The offer is currently non-binding and subject to due diligence and board approvals, with a formal announcement expected within two weeks. 

 

BluSmart, once hailed for its green mobility drive, has recently suspended operations in multiple cities. The company’s founders, Anmol Jaggi and Puneet Singh Jaggi, who are also the promoters of publicly-listed Gensol Engineering, may be asked to step down from BluSmart’s board if the deal proceeds. Eversource Capital has not provided a response to queries about the potential acquisition.

Financial Probes Surround BluSmart Promoters

The proposed acquisition comes against the backdrop of a deepening investigation by SEBI into fund diversion at Gensol Engineering. As per news reports, SEBI has alleged that funds were misdirected from Gensol to private entities controlled by the promoters, who also allegedly used a private firm, Wellray, to trade in Gensol’s shares. 

 

Out of BluSmart’s fleet of 8,700 electric vehicles, around 5,500 are supplied by Gensol, while over 3,000 have been leased from other partners. In a parallel development, the Ministry of Corporate Affairs has launched a suo motu probe into Gensol Electric, examining regulatory filings and financial records for possible irregularities. 

 

The outcome of this inquiry may determine further action against the company.

Read More: Gensol Shares Slide to 52-Week Low After SEBI Flags Inactivity at EV Plant

 

Gensol Engineering Share Performance 

As of April 21, 2025, 10:30 AM, Gensol Engineering share price is trading at ₹110.71, reflecting a 5% drop from the previous closing price. Over the past month, the stock has declined by 53.55%.

Conclusion

BluSmart, once a beacon of sustainable urban mobility backed by prominent investors such as BP Ventures, MS Dhoni, Deepika Padukone, and Ashneer Grover, now finds itself at a crossroads. The potential acquisition by Eversource Capital could provide a fresh start, though the final outcome hinges on the resolution of ongoing investigations and internal governance changes.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

TCS, Vianai Collaborate to Bring Gen-AI Decision Intelligence to Enterprises

Tata Consultancy Services (TCS) has partnered with Vianai Systems to enhance decision-making using conversational AI. This alliance allows business leaders to interact with data through natural conversations using Vianai’s Hila Platform. The goal is to provide quick insights without needing deep technical knowledge.

Benefits of the Hila Platform

The Hila Platform helps users, especially top executives, get real-time answers by asking questions in simple language. It combines AI and data analytics to support smart decisions in areas like finance, sales and supply chains. TCS will tailor this platform to meet the needs of different industries and ensure it fits smoothly into existing systems.

Statements from Leadership

Dr. Vishal Sikka, Founder & CEO, Vianai Systems, stated, “We are thrilled to partner with TCS, a collaboration that will unlock the full potential of hila, Vianai’s groundbreaking generative-AI platform. 

 

By enabling business users to engage directly with their transactional data in their own landscape, with accuracy, speed, security 

and at low cost, hila represents a new era in AI-driven decision-making. This partnership empowers enterprises worldwide to grow, optimise, and innovate with unprecedented simplicity and trust, embodying our vision of technology as a powerful human amplifier.”

TCS and Vianai’s Role in AI

TCS is committed to shaping the future with AI by training teams, offering expert services and ensuring safe AI practices. They provide a wide range of GenAI solutions, including consulting, model training and responsible AI frameworks. Vianai’s Hila Platform is designed to reduce AI errors and deliver reliable results for businesses worldwide.

 

Also Read: TCS Share Price in Focus After Dividend Declaration

Share Price Performance 

As of April 21, 2025, at 10:45 AM, Tata Consultancy Services Ltd share price is trading at ₹3,323 per share, reflecting a surge of 0.73% from the previous day’s closing price. Over the past month, the stock has registered a loss of 7.13%. The stock’s 52-week high stands at ₹4,592.25 per share, while its low is ₹3,056.05 per share.

Conclusion

This partnership is a big step towards making data and AI simple and useful for business leaders. With the Hila Platform and TCS’s support, companies can make better and faster decisions. It shows how AI can be a helpful tool for everyone, not just tech experts.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

Sky Gold & Diamonds Completes 100% Acquisition of Ganna N Gold for ₹225 Crore

Sky Gold and Diamonds Limited has acquired 100% of Ganna N Gold Private Limited, a Mumbai-based gold bangles manufacturing company. The deal is worth ₹225 crore and is being done entirely through a share swap, meaning no money is being paid in cash. This move allows Sky Gold to start manufacturing machine-made and handmade bangles and expand its range of jewellery offerings.

Strategic Benefits of the Deal

This is Sky Gold’s third acquisition in the last six months, which aligns with their growth plans. The deal has several benefits:

  • Ganna N Gold is already an expert in manufacturing jewellery, which strengthens Sky Gold’s product range.
  • Since it’s a share-swap deal and Ganna N Gold has a zero-inventory model, there is no need for extra cash investment.
  • Ganna N Gold enjoys a lower corporate tax rate of 15% due to Section 115BAB, which will improve Sky Gold’s overall profits.

Company Backgrounds

Ganna N Gold, founded in 2021, is known for its unique bangle designs and customisation capabilities. Its management team will join Sky Gold’s team. 

 

Sky Gold and Diamonds began in 2005 and became a public company listed on stock exchange. It has a large manufacturing facility in Navi Mumbai, employs over 850 people and sells through 2,000+ outlets. The company has also acquired Sparkling Chains and Starmangalsutra Pvt. Ltd. to strengthen its market presence.

Financial & Market Impact

The projected financials of Ganna N Gold show rapid growth:

  • Revenue is expected to grow from ₹29 Cr in FY 2025-26 to ₹81 Cr in FY 2027-28.
  • Profit after tax is projected to rise from ₹19 Cr to ₹43 Cr during the same period.

Sky Gold’s total market share across different jewellery types now stands at 75%, with contributions from its various acquisitions. This positions the company to meet a large portion of retail gold jewellery demand.

Also Read: Sky Gold Shares Locked in Upper Circuit

Share Performance 

As of April 21, 2025, at 10:30 AM, Sky Gold and Diamonds Ltd Share Price is trading at ₹345.30 per share, a 1.62% down. Over the past month, the stock has registered a profit of 3.09%. The stock’s 52-week high stands at ₹488.55 per share, while its low is ₹101.10 per share.

Conclusion

This acquisition strengthens Sky Gold’s market presence and product variety, giving the company a bigger role in the jewellery industry. By adding Ganna N Gold to its group, Sky Gold is not only expanding but also improving its profitability and customer offerings, setting a solid path for future growth.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

NIIT to Acquire Remaining IFBI Stake, Raising Stake to 100%

NIIT Limited has decided to buy additional shares in its subsidiary, NIIT Institute of Finance Banking and Insurance Training Limited (IFBI). It will purchase:

  • 19,00,000 shares (18.79%) from ICICI Bank  
  • 50,000 shares (0.49%) from individual shareholders  

 

Earlier, NIIT held 80.72% of IFBI. After this deal, it will own 100%, making IFBI a wholly owned subsidiary.

Why This Acquisition? 

This move is part of NIIT’s business strategy to fully control IFBI, which aligns with its focus on training in the Banking, Financial Services and Insurance (BFSI) sector. The deal is expected to be completed by September 30, 2025.

Details of the Transaction

  • Type: Cash transaction  
  • Cost: Between ₹47 million to ₹65.8 million for shares from ICICI Bank  
  • Result: NIIT will acquire full ownership of IFBI (100% stake)

About IFBI

IFBI, started in 2006, trains people for jobs in the BFSI sector. It’s based in Gurgaon, India. Revenue in last 3 years:  

  • FY24: ₹567 million  
  • FY23: ₹184 million  
  • FY22: ₹152 million  

Net worth (as of March 31, 2024): ₹219 million  

 

Also Read: NIIT Learning Systems Limited (NIIT MTS) Ranked Among Top 20 Learning Services Companies

Share Price Performance 

As of April 21, 2025, at 11:15 AM, NIIT Ltd Share Price is trading at ₹132.25 per share, reflecting a surge of 1.21% from the previous closing price. Over the past month, the stock has registered a profit of 5.12%. The stock’s 52-week high stands at ₹233.80 per share, while its low is ₹90.55 per share.

Conclusion

This strategic acquisition aligns with NIIT’s goal to consolidate its holdings in IFBI, strengthening its position in the BFSI training market. The move simplifies ownership and enhances operational control over the subsidiary.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

India Set to Sign Largest Rafale Marine Jet Deal with France on April 28

India is on the verge of finalising a landmark defence agreement with France for the acquisition of 26 Rafale Marine fighter jets. Slated for signing on 28 April, the deal marks a major step in bolstering the Indian Navy’s air capabilities and deepening bilateral defence ties. 

 

The high-profile signing event is expected to take place in New Delhi in the presence of senior officials from both nations.

India and France to Finalise Major Naval Fighter Jet Deal

In a significant development, India and France are poised to conclude a government-to-government agreement for the purchase of 26 Rafale Marine aircraft. Senior officials from both countries will witness the signing ceremony, expected to take place outside the Defence Ministry headquarters in South Block. The French Defence Minister is scheduled to arrive in India a day prior to the event.

 

The contract was cleared earlier this month on 9 April by the Cabinet Committee on Security, chaired by Prime Minister Narendra Modi. This acquisition represents India’s largest-ever defence procurement deal, underscoring its continued focus on maritime security and defence modernisation.

Rafale-M Jets to Bolster Naval Air Power from INS Vikrant

The deal includes 22 single-seater and four twin-seater Rafale Marine fighter jets. It also provides for a complete support package comprising maintenance, logistics, personnel training, and incorporation of indigenous components. 

These aircraft will be deployed on INS Vikrant, India’s first indigenously built aircraft carrier, and will operate alongside the existing Mig-29K fleet. The addition of these jets will take the total number of Rafale fighters in Indian service to 62. The Indian Air Force already operates 36 Rafale jets, procured under a separate 2016 agreement, from Ambala and Hashimara airbases.

Read More: India’s Largest Fighter Jet Deals: ₹63,000 Crore Cleared for 26 Rafale Marine Jets from France

Conclusion

The Rafale Marine deal marks a defining moment in India’s defence landscape. By strengthening naval aviation with advanced 4.5-generation fighters, India reinforces its maritime dominance and strategic depth in the Indo-Pacific region. This agreement not only enhances combat readiness but also solidifies the enduring defence partnership between New Delhi and Paris.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Craftsman Automation Started Commercial Operations at Its Newly Built Plant in Coimbatore

Craftsman Automation Limited has officially announced the commencement of commercial operations at its newly established plant located in Kothavadi, Coimbatore.

 

This development marks a significant milestone in the company’s expansion efforts and adherence to its commitment towards strengthening manufacturing capabilities.

Expansion of Manufacturing Facilities 

On 19th April 2025, Craftsman Automation Limited began commercial production at its new Kothavadi facility. This move follows an earlier intimation made on 30th October 2023, in compliance with Regulation 30 read with Para B of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new facility is part of the company’s strategic plan to enhance its operational capacity and address growing market demand.

About Craftsman Automation Limited

Craftsman Automation Limited is a leading engineering company in India that specialises in manufacturing precision components. It serves key sectors such as automotive, industrial and engineering, offering products like engine parts, transmission systems and industrial equipment. 

 

Read More: Craftsman Automation Acquires INOS 24-004 GmbH

Share Price Performance 

As of April 21, 2025, at 12:15 PM, Craftsman Automation Ltd share price is trading at ₹4,800, reflecting a surge of 0.84% from the previous closing price. Over the past month, the stock has registered a decline of 0.30%. The stock’s 52-week high stands at ₹7,121.25 per share, while its low is ₹3,700 per share.

Conclusion

Craftsman Automation’s latest announcements reflect both operational growth and a transparent approach to financial communication. The commencement of the new plant and the scheduled financial updates underline the company’s commitment to expanding its capabilities and maintaining strong engagement with its stakeholders.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

Asian Energy Acquires Kuiper Group to Strengthen Global Energy Services

Asian Energy Services Limited has initiated a significant global expansion move by acquiring 100% equity in Kuiper Holdings Limited and Kuiper Group Limited for $9.25 million. This acquisition was executed through its wholly owned subsidiary, Asian Oilfield & Energy Services DMCC (Dubai), positioning the company to strengthen its service portfolio across international markets.

Acquisition Details

The acquisition agreement was signed on 18th April 2025 with Offshore Logistics Services Holdings Limited, registered in the Cayman Islands. Upon completion, the Kuiper Group entities will become wholly owned subsidiaries of Asian DMCC and step-down subsidiaries of Asian Energy. 

Kuiper Group, with a reported turnover of $68 million in 2024, operates in the manpower solutions segment for the global energy industry. The acquisition, valued at $9.25 million in cash, awaits regulatory approval from the General Authority for Competition in Saudi Arabia and is expected to close within two to three months.

Expansion of Operational Capabilities

This acquisition is aligned with Asian Energy’s long-term strategy to expand its integrated operations and maintenance offerings across the Middle East and Southeast Asia. The Kuiper Group’s established presence in key global energy hubs and its track record with major projects make it a strategic addition to the company’s portfolio. 

There is no related party involvement, and the transaction has been executed at arm’s length, ensuring full regulatory compliance.

Read More: Asian Energy Services To Strengthen Financial Stability: ₹160 Crore Preferential Issue

Asian Energy Services Share Performance 

As of April 21, 2025, 10:30 AM, Asian Energy Services share price is trading at ₹316.35, reflecting a 1.42% drop from the previous closing price. Over the past month, the stock has surged by 11.65%.

Conclusion

The acquisition of the Kuiper Group marks a significant milestone in Asian Energy’s journey towards becoming a global player in the energy services industry. By leveraging Kuiper’s strengths, the company is set to broaden its reach and operational excellence across international markets.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

PSP Projects Shares in Focus on Winning ₹107 Crore Contract at GIFT City

PSP Projects Limited has received a significant civil construction contract, marking another addition to its expanding project portfolio. The newly awarded project reflects the company’s continued momentum in the institutional infrastructure space within India.

Work Order for BIFC-2 Building in GIFT City

The company has been awarded a work order by Brigade (Gujarat) Projects Private Limited for civil structure and finishing work on the BIFC-2 Building, located at GIFT City in Gandhinagar, Gujarat. The contract, valued at ₹107.10 crore (excluding GST), falls under the institutional category and is expected to be executed within 24 months.

This new development underlines PSP Projects’ growing footprint in Gujarat’s premium business and financial hub, reinforcing its role in smart urban infrastructure projects.

Full Regulatory Compliance and No Related Party Involvement

PSP Projects has formally confirmed that this order does not fall under related party transactions. Neither the promoters nor any entities from the promoter group hold an interest in the awarding company.

Additionally, the company stated that all work orders, including this one, are secured from domestic entities, ensuring compliance with SEBI’s disclosure norms and reinforcing corporate transparency.

Read More: Adani Infra Gets CCI Approval for PSP Projects Stake Purchase

PSP Projects Share Performance 

As of April 21, 2025, 9:30 AM, PSP Projects Share Price is trading at ₹636.65, reflecting a 0.07% surge from the previous closing price. Over the past month, the stock has surged by 0.49%.

Conclusion

By acquiring this major institutional project, PSP Projects continues to consolidate its presence in strategic infrastructure zones. The contract serves as both a testament to its execution capability and a step forward in India’s infrastructure growth story.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

MTNL Shares Down on April 21; Defaults on Over ₹8,300 Crore in Loans With Multiple Banks

Mahanagar Telephone Nigam Ltd (MTNL) is now grappling with a severe financial crisis. The company has defaulted on substantial loan repayments to multiple public sector banks, raising concerns over its long-term viability.

Over 8,300 Crore Default Across Multiple Lenders

MTNL has defaulted on loans totalling ₹8,346 crore, as per an exchange filing released on Saturday. The default includes principal and interest. The affected banks include Union Bank of India, Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Punjab and Sind Bank, and Indian Overseas Bank.

These missed payments occurred in March and mark one of the largest defaults by a state-owned telecom firm in recent times. The company’s inability to service its debt has put further pressure on its financial standing.

Persistent Struggles of a Declining Telecom PSU

MTNL’s financial health has been deteriorating for several years due to mounting debt, declining revenues, and intense market competition. The latest defaults reflect the broader challenges faced by legacy telecom firms in adapting to a rapidly evolving industry.

Despite previous government bailouts and merger talks with BSNL, the company continues to face operational and financial hurdles, with limited visibility of a sustainable turnaround in sight.

Read More: BSNL, MTNL Earn ₹12,984 Crore From Monetisation; No Privatisation Planned

MTNL Share Performance 

As of April 21, 2025, 9:30 AM, MTNL Share Price is trading at ₹43.00, reflecting a 1.83% drop from the previous closing price. Over the past month, the stock has declined by 6.42%.

Conclusion

MTNL’s recent loan default underscores the depth of its financial distress and casts doubt on its revival prospects. With public sector banks already under pressure, the ripple effect of such defaults could pose additional challenges for the broader banking ecosystem.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.