Centre cuts interest on GPF by 10 bps

Finance Ministry has cut the rate of General provident fund (GPF) by 10 basis points from 8% to 7.9%.

During the year 2019-2020, accumulations at the credit of subscribers to the GPF and other similar funds shall carry interest at the rate of 7.9% with effect from July 1, 2019 to 30th September 2019.

Static/Current Takeaways Important For SBI PO/Clerk Main:

  • Finance Ministry of India: Nirmala Sitharaman.

Source: The Economics Times

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