Govt raises interest rate on provident funds to 9.5%

Govt raises interest rate on provident funds to 9.5%

Press Trust of India / New Delhi September 15, 2010, 18:37 IST

The government increased the interest rate offered in the employees' provident fund by 1 percentage point to 9.5 per cent for the fiscal year that ends in March 2011, Harish Rawat, Minister of State for Labour, told reporters on Wednesday.