Bihar Cabinet fixes PF interest rate at 8.1%

In line with the Centre's decision to cut interest rate on provident fund, the Bihar Cabinet today decided to fix interest rate on Bihar general provident fund or contributory provident fund at 8.1 per cent.
"The Cabinet today gave its nod to a proposal of Finance Department to fix interest rate at 8.1 per cent which would be paid on the deposits of general provident fund/ contributory provident fund," Cabinet Secretariat Department Principal Secretary Brajesh Mehrotra told reporters here.
"The decision has been taken in line with the Centre's decision to slash interest rate on the provident fund," Mehrotra said.

The rate of 8.1 per cent would be applicable for the first quarter of the current fiscal, from April 1 to June 30, he said.