Fixed Income
Government does not guarantee EPFO's stock investments: Minister
Investments by the Employees' Provident Fund Organisation (EPFO) are not backed by any government guarantees as these are subject to market movements, parliament was informed on Wednesday.
 
"The government has not provided any guarantee for such investments in the stock market, as investment in such instruments are subject to market movements," Labour Minister Bandaru Dattatreya told the Rajya Sabha in a written reply.
 
"Some of the trade unions have expressed reservations over the decision to invest in equity as they are concerned about the risk associated with the investments in stock market," he said.
 
The minister also said that the EPFO's Central Board of Trustees has approved the proposal for investing in Exchange Traded Funds (ETFs) "after considering the possible risk associated with the investments".
 
EPFO started investing in ETFs from August this year, and the retirement fund organisation plans to invest 5 percent of its incremental deposits into ETFs during the current fiscal.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

90 percent grain, 20 percent sugar to be packed in jute bags
At least 90 percent of grain and 20 percent of sugar produced in the country would now have to be packed in jute bags, the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi decided on Wednesday.
 
An official statement said the decision would provide relief to 3.7 lakh workers employed in jute mills and ancillary units as well as support the livelihood of around 40 lakh farm families. 
 
Besides, it would help to protect the environment because jute is natural, biodegradable and reusable fibre.
 
Under the Jute Packaging Materials (Compulsory use in Packing Commodities) Act, 1987, the government is required to consider and provide for the compulsory use of jute packaging material in the supply and distribution of certain commodities in the interest of production of raw jute and jute packaging material and of persons engaged in the production thereof and for matters connected therewith.
 
In pursuance of the Act, the government decided that 90 percent of food grain production and 20 percent of sugar would be reserved for jute packaging in 2015-16 
 
The statement however added that in case jute mills were not able to provide jute bags as per the requisition, a dilution of up to 10 percent would be permissible. 
 
Sugar packed for export but which could not be exported, sugar fortified with vitamins, packing for export of commodities, consumer packs of 10 kg and below for food grain and 25 kg and below for sugar and bulk packing of more than 100 kg may also be exempted from the reservation order under the Act. 
 
Meanwhile, packing of food grain above 10 kg and up to 25 kg should be done in jute bags.

 

Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Nandan Denim: Expansion Drive
Once the expansion plan is complete, growth and profits may get a boost
 
Retail...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)