Federal Bank has integrated its digital banking platforms with the Employees’ Provident Fund Organisation (EPFO), enabling customers to make EPFO payments directly through the bank’s Net Banking platform. The move is aimed at simplifying statutory payment processes for businesses and individuals while improving digital convenience.

The new facility was formally launched at a ceremony in New Delhi attended by senior EPFO officials, including Brij Mohan Singh, Regional PF Commissioner-I (Banking), Ajay Krishna Paliwal, Regional PF Commissioner-II (Banking), and EPFO official Kapil Anand. Federal Bank was represented by Anoop T, Senior Vice President and Country Head of the Government and Institutional Business Department, along with other bank officials.

With the integration now live, Federal Bank customers can securely process EPFO payments online without visiting physical offices. The bank said the service is designed to provide a smooth and hassle-free payment experience while helping organisations meet statutory compliance requirements more efficiently.

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Harsh Dugar, Executive Director of Federal Bank, said the initiative aligns with the bank’s “Digital at the Fore, Human at the Core” philosophy. He noted that the bank remains focused on introducing customer-centric digital services that simplify interactions with government systems and strengthen the overall payments ecosystem.

The bank added that the feature will help individuals and organisations save time, reduce operational effort, and ensure quicker EPF dues payments through a secure digital channel.

By integrating EPFO services into its digital platforms, Federal Bank continues to expand its digital banking capabilities and reinforce its focus on secure, reliable, and technology-driven financial solutions for customers and institutions alike.

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Federal Bank's credit card portfolio

Last week, Federal Bank announced the acquisition of a select credit card portfolio from Standard Chartered Bank India, comprising around 4.5 lakh credit cards, according to a statement issued by the bank.

The acquisition is expected to significantly strengthen Federal Bank’s cards business, particularly in the non-co-branded segment. The bank currently has around 8 lakh non-co-branded cards and 13 lakh co-branded cards. With this transaction, its non-co-branded credit card receivables are expected to rise by nearly 90%.

The outstanding portfolio size is estimated at around ₹1,500 crore. The final number of cards transferred will depend on customer consent and the timing of the migration process. Federal Bank said the transaction values the portfolio at around 1.5–1.6 times implied equity, with final consideration linked to balances at the time of transfer.

Published on: May 7, 2026 5:02 PM IST