EPFO to invest more than Rs 6700 crore in equity markets this year

Employee Provident Fund Organisation (EPFO) is looking to invest over Rs 6,700 crore in the Indian equity markets in the current fiscal, sources told Zee Business.

They further told the Channel that the decision has already been taken to this effect and a formal announcement will be made in August this year during the CBT meeting.

Last year, EPFO invested Rs 6,700 crore in the stock markets and earned a return of 1.68%.

Sources said that CBT also believes that EPFO’s investments in the markets must increase but wants a cautious approach on the quantum of money to be invested.

They further said that a sub-committee of CBT has proposed an yearly rise of 2% for the next five years in EPFO’s market exposure.

The CBT meeting in August will also decide upon the investment in NIIF, sources said.