Bowing down to pressure from unions, the government decided to increase the rates on the Employee Provident Fund (EPF) by 5 basis points to 8.8%, even as rates on small savings instruments were cut by 50 to 100 basis points recently. 100 basis points make one percentage point. While returns on instruments like Public Provident Fund (PPF), National Savings Certificate (NSC), post office monthly income scheme etc.
India's wealthy opt for term insurance policies worth Rs 5-20 crore: Report
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