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Fixed Income: PF Interest Rate Unchanged at 8.5%

Employee Provident Fund Organisation (EPFO) is likely to pay an interest rate of 8.5% on provident fund deposits for 2013-14 to over 50 million subscribers. The interest remains the same as provided in 2012-13, but is higher than 8.25%, that was paid in fiscal 2011-12.

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Mutual Funds: RGESS Open for 30 Days

Investing in mutual funds under Rajiv Gandhi Equity Saving Scheme (RGESS) will be open for 30 days after launch, unlike other mutual funds where the subscription period is limited to 15 days. This relaxation has been granted to RGESS to make it attractive for small investors. SEBI has also relaxed the timeframe for refund and issue of statements for RGESS to 15 days, compared to five days for other mutual fund schemes.

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