EPFO cuts interest rate to 8.55 pct for 2017-18

Retirement fund body, Employees' Provident Fund Organisation (EPFO) on Wednesday declared a cut in its interest rate to 8.55 percent for 2017-18 from 8.65 percent for 2016-17.

This was decided during the meeting of Central Board of Trustees of EPFO in Delhi today.

For 2016-17 the rate was 8.65 percent and in 2015-16 the rate was 8.8 percent.

In order to maintain the interest this fiscal, the organisation had sold a portion of its investment in the Exchange Traded Funds, ETF.

The body has approximately five crore members.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel