EPFO to invest Rs 13,000 cr in ETFs; unions protest

New Delhi: The Labour Ministry on Thursday doubled EPFO's investment limit in ETFs to 10%, which will see the retirement fund body infuse about Rs 13,000 crore in stock markets this fiscal, a move that riled trade unions who have questioned the manner in which the government raised the cap. The Labour Ministry raised the limit of investments by the Employees' Provident Fund Organisation (EPFO) in the Exchange Traded Funds (ETFs) in 2016-17 to 10% of its investible deposits from 5% in the last fiscal.

"We have already issued a notification raising the EPFO investment limit of ETFs to 10% from the current 5% of its investible deposits considering the good economic situation," Labour Minister Bandaru Dattatreya said. pti