High-level panel to review RBI advisory on EPFO's investment practices

The committee with members from RBI, Labour and Finance Ministries will draft a roadmap to improve EPFO's fund management and accounting practices

The Employees’ Provident Fund Organisation (EPFO) has decided to form a high-powered committee to study the Reserve Bank of India’s (RBI) recommendations for improving the ₹25 trillion retirement fund’s investment management and accounting practices, Business Standard has learnt.  

The RBI had made a slew of suggestions on the functioning of the country’s largest retirement fund, following a request by the union labour ministry to lend its expertise and help identify gaps in EPFO’s investment strategy and fund management practices, including accounting, risk management, and internal governance.  

The high-powered committee, which will include representatives from