New Delhi [India], Feb 21 (ANI): Retirement fund body, Employees’ Provident Fund Organisation (EPFO) on Wednesday declared a cut in its interest rate to 8.55 percent for 2017-18 from 8.65 percent for 2016-17. Also Read - New Delhi, Goa and Mumbai Top Booked Destinations by Indians During Valentine’s Week

This was decided during the meeting of Central Board of Trustees of EPFO in Delhi today. Also Read - Mughal Gardens to Open For Public From THIS Date, Entry Through Online Booking Only | Check Timing, Other Details

For 2016-17 the rate was 8.65 percent and in 2015-16 the rate was 8.8 percent. Also Read - Costliest 'Ghagra'? Drugs Worth Rs 1.7 Crore Hidden in Lehengas That Were Being Sent to Australia

In order to maintain the interest this fiscal, the organisation had sold a portion of its investment in the Exchange Traded Funds, ETF.

The body has approximately five crore members. (ANI)

This is published unedited from the ANI feed.