EPFO board allows faster decisions on investment opportunities
The Hindu
‘Significant decision would yield higher rate of return’
The Employees’ Provident Fund Organisation’s (EPFO) Central Board of Trustees (CBT) on Saturday approved a proposal that would speed up decisions on investment opportunities, according to EPFO officials.
The CBT, at a meeting chaired by Labour and Employment Minister Bhupender Yadav, “decided to empower the Finance Investment and Audit Committee (FIAC) to decide upon the investment options, on case-to-case basis, for investment in all such asset classes which are included in the Pattern of Investment as notified by Government of India”, the Ministry said.
Labour and Employment Secretary Sunil Barthwal told The Hindu that empowering the FIAC would mean “faster decision-making so that good investment opportunities are not missed due to want of a CBT meeting”.
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