The Employees’ Provident Fund Organisation (EPFO) brought some good and bad news last week. First for the good news: it raised the interest rate on deposits for its 60 million subscribers to 8.65% for 2018-19, giving a boost to retirement savings. The bad news was that EPFO’s investments in select exchange-traded funds (ETFs) yielded subpar returns. Although still a small part of the EPF corpus, over time this can harm returns from EPFO, especially once the authority decides to unitize the corpus.
Can the defence sector continue firing after 100% gains?
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