LAKSH Career Academy

LAKSH Career Academy
Author: Hiren Dave

Saturday, 25 April 2015

25 APRIL 2015: EPFO to invest 5% in stock market

Ø  In a rare action, a private member’s Bill protecting and providing rights for transgenders was passed by the Rajya Sabha on Friday. The Bill also guarantees reservation in education and jobs, financial aid and social inclusion. This is the first time in 45 years that a private members' Bill has been passed by the House. The Rights of Transgender Persons Bill, 2014, paves the way for a law on the matter in the near future. The government assured the House that it would bring an updated Bill in the Lok Sabha. Sources later told The Hindu that while the government “accepts the spirit and sentiment of the Bill, it has infirmities that need to be removed.”

Ø  The Central Government has allowed retirement fund body Employees’ Provident Fund Organisation (EPFO) to invest 5 per cent of its corpus in exchange traded funds (ETF), which will result into an inflow of around Rs.5,000 crore into the stock markets during this fiscal. Labour Ministry has notified a new investment pattern for the EPFO, which allows the body to invest 5 per cent of its funds into ETFs. 

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