EPFO ADVISORY BODY TO DECIDE ASSET CLASSES ON INVESTMENT ( InvITs )

At present, the National Highway Authoritiy of India and the power Grid Corporation have launched the public sector infrastructure investment trusts and the EPFO would also go for public sector bonds .The said decision was taken at the 229 th meeting of the Employees provident fund Organisation' s  Apex decision making body-- Central board of the Trustees ( CBT)  headed by the Union  Labour Minister, Shri Bhupendra Yadav. The board  decided to empower Finance Investment and the Audit Committee ( FIAC) to decide upon the investment options , on a case to case basis, for investment in all such asset classes which are included in the pattern of investment as per the notification of Ministry of the finance department for which the provision of the high rate of interest should be followed as per the schedule under guidelines of the Finance ministry .The government recently added new investment trusts ( bonds and InvlTs) .As such it has in Principal decided that the FIAC will take a decision in the matter for which the CBT has authorised the FIAC to do the needful for which the FIAC will now take a decision in the matter like the National Highway Authoritiy of India and the Power Grid (InvITs) however at present only public sector bonds and the InvITs will be considered in asset classes .