The Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) on Tuesday decided to raise the interest rate on the provident fund deposits marginally to 8.15 per cent for FY23 from a four-decade low of 8.1 per cent in the previous financial year.
The interest rate would be officially notified in the government gazette after getting the customary approval from the Finance Ministry, following which EPFO would credit the rate of interest into its subscribers' accounts.
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Cement stocks may remain tepid in near term
Likely weak demand over the next few months as the monsoon season gathers pace, coupled with no price hikes, may keep cement stocks tepid in the near term, believe analysts. As a strategy, however, they suggest investors accumulate related stocks on dips, encashing benefits of a rebound in the second half of the current financial year.
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