# EPFO

• The Central board of trustees of the employees provident fund organization on Tuesday recommended 8.15% interest for this financial year, compared to 8.1% paid to its six crore active subscribers last year.
• The rate proposed by the board, headed by labour minister Bhupender Yadav, will leave a surplus of ₹664 crore as against ₹450 crore last year.
• The decision reverses the trend of falling returns, offering a marginally higher interest in the backdrop of rates rising in the economy as the RBI seeks to tame inflation.

# PMLA

• The Supreme Court on Tuesday agreed to examine the constitutional validity of sections 50 and 63 of the prevention of money laundering act, 2002.
• These sections empowered ED officials to summon anyone without giving any reason to record his/her statement and which provide for punishment for giving false information or for failure to give information.
• The petitioner alleged that the unbridled power given to the agency was being misused to silence opposition leaders across the country.

# PAN

• The centre on Monday extended the date for linking PAN with aadhaar by three months to June 30.
• Under the provisions of the IT act 1961, every person who have been allotted a PAN as on July 1 2017, and is eligible to obtain Aadhaar number, was required to intimate his aadhaar to the prescribed authority on or before March 31,2023.
• From July 1 2023, the PAN of tax payers who have failed to intimate their aadhaar as required, shall become inoperative.
• The PAN can be made operative again in 30 days, upon intimation of aadhaar to the prescribed authority after payment of ₹1000 fee.

# Exports

• India’s goods and services exports have for the first time crossed $750 billion dollars.
• Exports of $760 billion would result in an increase of 12.4% compared to last year’s level of $676 billion.
• The government had set a target of $750 billion for this year.
• Although goods exports have shrunk during three of the last five months.