Srinagar, July 31: Jammu & Kashmir government has kept the interest rate for General Provident Fund at 7.1%, for the 2nd quarter of 2021-22.
Before the Covid19 pandemic, the interest rate was hovering around 8 percent. This latest revision is one of the lowest in recent quarters,
A latest J&K government order issued in this regard reads, “pursuant to the notification F No: 5 (4)-B (PD)/2021 dated 05-07- 2021, issued by the Department of Economic Affairs, Ministry of Finance, Government of India, it is hereby ordered that the accumulations at the credit of subscribers to General Provident Fund shall carry interest at the rate of 7.1% (Seven point one percent) for 2nd quarter of the financial year 2021-22 i.e 1st July, 2021 to 30th September, 2021.”
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