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Reliance Jio IPO: India's Biggest IPO Coming Soon? Valuation, ARPU, and Latest News

  New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process.   Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...
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Interest on provident fund deposits will be 8.5% in 2019-20


Interest on provident fund deposits will be 8.5% in 2019-20



The Employees Provident Fund Organization (EPFO) reduced the interest rate on provident fund deposits to 8.5 per cent for the current financial year 2019-20. This is the lowest level in seven years. EPFO paid 8.65% interest on EPF to its 6 crore members for 2018-19. The decision to reduce interest was made by the Central Board of Trustees (CBT) of EPFO, the apex decision-making body in EPFO. The latest EPFO ​​decision will be sent to the Finance Ministry for approval, as the EPF guarantor is the central government. The Finance Ministry has been insisting on increasing the interest rate of EPF to the same rate as other small savings schemes of the government like PPF and Post Office Savings Schemes.


EPF interest rates in the last few years
Financial Year
Rate of Interest on EPF
2018-19
8.65 %
2017-18
8.55 %
2015-16
8.65 %
2014-15
8.80 %
2014-15
8.75 %
2013-14
8.75 %
2012-13
8.50 %




After the meeting, Labor Minister Santosh Gangwar said that it has been decided to reduce the interest rate on EPF to 8.5 per cent for the financial year 2019-20. He informed that if 8.5% interest will be paid on EPF in the current financial year, then EPFO ​​will have a surplus of more than Rs 700 crore. A source in the ministry said that if 8.55 per cent interest was paid on EPF in this financial year, the EPFO ​​would have a surplus of more than Rs 300 crore. Had the interest rate been kept higher than 8.55 per cent, the EPFO ​​would have incurred losses. The new interest rate of EPFO ​​is the lowest since 2012-13. Even in 2012-13, the EPFO ​​interest rate was 8.5 per cent.



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