Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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The Centre has increased the rate of interest for General Provident Fund (GPF) and other related schemes by 0.4 percentage points to 8% for the October-December quarter. The rate is in line with that for Public Provident Fund. The interest rate on GPF was 7.6% for the July-September quarter of 2018-19. “During the year 2018-2019, accumulations at the credit of subscribers to the GPF and other similar funds shall carry interest at the rate of 8% with effect from October 1, 2018, to December 31, 2018,” a Department of Economic Affairs’ notification said. The interest rate would apply on Provident Funds of central government employees, railways and defence forces.
