Union government retained the interest rate for General Provident Fund (GPF) at ___________ % for the first quarter of the current financial year 2019-2020.
Options
A. 9%
B. 5%
C. 8%
D. 12%
Correct Answer
8%
Explanation
Union government retained the interest rate for General Provident Fund (GPF), Contributory Provident Fund and other related schemes at 8% for the first quarter of the current financial year 2019-2020. The interest rate on these funds was at 8% in the January-March quarter of 2018-19 and government kept it unchanged for April to June for 2019-20. The Department of Economic Affairs, in a notification, the mentioned interest rate will be applicable on provident funds of central government employees, railways and defence forces.
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