Current Affairs 04 May 2026

EPFO Unveils E-PRAAPTI Platform for Resolving Inoperative Accounts.

Ministry of Labour and Employment launched E-PRAAPTI portal for tracking and activating inoperative EPF accounts.
Enables Aadhaar-based access for members without a UAN.
EPF accounts become inoperative after 3 years of no contribution post-retirement/age 55.
EPFO recorded 31.83 lakh inoperative accounts with ₹10,181 crore unclaimed balance (March 2025).
Auto-settlement approved for unclaimed balances up to ₹1,000.
EPFO settled a record 8.31 crore claims in FY26; 71.11% advance claims processed within 3 days.

Prashast 2.0 app will undergo live testing to identify 21 recognized disabilities in school children.
Aims to simplify disability certification and integrate Children with Special Needs (CWSN) into mainstream classes.
Official rollout scheduled for May 2026.
App screens disabilities at the school level and connects teachers with special educators.
Identified students will receive support under the Samagra Shiksha scheme.
Based on the RPWD Act, 2016, which expanded recognized disabilities from 7 to 21.

Election Commission introduced a QR code-based Photo Identity Card system on ECINET for counting centres.
To be first used during assembly election counting in Assam, Kerala, Tamil Nadu, West Bengal, and Puducherry.
Introduces a three-tier security system; QR code scanning mandatory at the innermost security cordon.
Applicable to all authorized election personnel, including counting staff, officers, candidates, and agents.
Media personnel are exempted and will use traditional authority letters.

SEBI operationalised the PaRRVA framework on May 4, 2026 to verify performance claims of market intermediaries.
CARE Ratings designated as PaRRVA; NSE acts as the PaRRVA Data Centre (PDC).
Verifies claims related to investment advisory, research services, and algorithmic trading.
Enables intermediaries to use standardised and verified performance data in advertisements.
Pilot phase began in December 2025; full implementation started in May 2026.

RBI will implement a reporting framework for OTC FX derivatives involving the Rupee from July 1, 2027, in phases.
Applicable to Authorised Dealer Category-I (AD Cat-I) banks.
Covers both deliverable and non-deliverable OTC FX derivative contracts.
Phased compliance targets for transaction reporting: 70% → 80% → 90%.
Aims to strengthen transparency in foreign exchange derivative markets.