Decision on investing EPFO funds in stock market deferred
Press Trust Of India / New Delhi Oct 09, 2009, 00:50 IST
The Finance and Investment Committee, the key advisory body of the Employees’ Provident Fund Organisation (EPFO), today deferred a decision on investing EPFO funds in the stock market.
The FIC, according to sources, will take a final view on parking 3-5 per cent of the EPFO’s larger corpus of funds totaling Rs 2.57 lakh crore on October 24.
The decision to investment small portion of corpus in equity or other instruments would have resulted in about Rs 13,000 crore flowing into the capital markets. Ahead of the meeting, several trade union representatives had expressed their reservations about permitting EPFO to park part of its funds in the stock market.
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