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Provident Fund Money meeting held 2/17/2015 12:04:56 AM Early Times Report Jammu, Feb 16: A meeting of Investment Committee was held under the Chairmanship of Provident Fund Commissioner, Vipra Bhal regarding the investment of Provident Fund Money. The meeting was attended by the Officers of concerned Departments besides President Chamber of Commerce &Industries, Kashmir and Jammu and President Indian National Trade Union Congress, J&K. During the meeting threadbare discussion was held on the interest rates offered by J&K Bank, Central Bank of India, HDFC Bank, Axis Bank, SBI and Allahabad Bank. The guidelines issued by the Finance Department on the investment of provident fund money were also placed before the members who unanimously suggested diversifying the investment as per the guidelines to yield maximum returns on the investment of the Provident Fund Money for the benefit of more than 2.50 lac subscribers. Earlier, the member was also apprised about the classified summary of asset/investment of the organization. It was told that as on 31st March, 2013 the book value of the investment in Jammu Division is Rs. 667.47 crore having market value of Rs 847.72 crore and in Kashmir Division is Rs 603.13 crore having market value of Rs 814. 64 crore. The members also deliberated on how to provide subscriber friendly services in terms of easy settlement of claims besides insisted on compliance with provision of the Act.   Share This News with Your Friends on Social Network     Comment on this Story

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