Interest rate on GPF hiked to 8%

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.

Source : https://www.thehindu.com/todays-paper/tp-business/interest-rate-on-gpf-hiked-to-8/article25243030.ece

About ChinmayaIAS Academy - Current Affairs

Check Also

PUBLIC DISTRIBUTION SYSTEM

The Public Distribution System (PDS) evolved as a system of management of scarcity through the …

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates