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English Release 29-August 2014
Date Month Year
  • President's Secretariat
  • President presents Sports and Adventure Awards
  • Prime Minister's Office
  • PM greets people on the occasion of Samvatsari
  • PM's Departure Statement ahead of his visit to Japan
  • PM pays tribute to legendary hockey player Dhyan Chand; congratulates award-winning sportspersons
  • PM greets people on Ganesh Chaturthi
  • Min of Agriculture
  • Kharif Sowing Crosses 966 Lakh Hectare Mark
  • Min of Civil Aviation
  • Air India Day Felicitates its Employees
  • Ministry of Finance
  • Finance Ministry: Performance of the Economy in the First Quarter of the Financial Year 2014-15 ss Broadly on Expected Lines
  • 1,84,68,000 Accounts Opened in more than 70000 Camps Under Pradhan Mantri Jan-Dhan Yojana ; Banks to hold such Camps on Weekly Basis, from 8 am to 8 pm on all saturdays to Achieve the Target of Covering Unbanked Households well in Time
  • India Signs Loan Agreements with World Bank for IDA Assistance of US $ 107 Million for Second Mizoram State Roads Project
  • Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified
  • India’s External Debt: A Status Report 2013-14 Released; India’s External Debt Stock Stood at US$ 440.6 Billion at end-March 2014, Increasing by US$ 31.2 Billion (7.6 per cent) Over the Level at end-March 2013
  • Min of Health and Family Welfare
  • 887 passengers being tracked for Ebola Virus Disease
  • Integrated trauma support service on anvil
  • Exclusivity of Central Government Health Scheme to be phased out
  • Min of Home Affairs
  • India-Israel Bilateral Cooperation
  • Shri O.P. Singh assigned additional charge of DG, NDRF
  • National Seminar on Promoting Peace and Harmony
  • New Interlocutor for Naga Peace Talks
  • Min of Labour & Employment
  • National Consultative Workshop on “Industry-Career Centre –ITI Collaboration” organized
  • Min of Personnel, Public Grievances & Pensions
  • Dr. Jitendra Singh Felicitates UPSC recommended IAS Candidates
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 101.07 per bbl on 28.08.2014
  • Min of Shipping
  • Delegation of Powers to States for Registration, Survey and Certification of Fishing Vessels
  • Min of Statistics & Programme Implementation
  • Estimates of Gross Domestic Product for the First Quarter (April-June) of 2014-15
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on August 28, 2014
  • Min of Youth Affairs & Sports
  • President Confers National Sports Awards – 2014
  • Full Text of the Speech of Sarbananda Sonowal at a Function to Celebrate the National Sports Day
  • Text of Speech of Sarbananda Sonowal at the National Consultation Workshop on ‘Industry- Career Centre- ITI Collaboration’

Previous Date

 
Ministry of Labour & Employment29-July, 2008 18:0 IST
Central Board of Trustees select fund managers

      A special meeting of the Central Board of Trustees, Employees Provident Fund was held here today to decide on the issue of appointing a multiple fund managers to manage the provident fund monies.  The issue of multiple fund managers is under examination by the Board for more than two years.  In an earlier meeting, it was decided to appoint a professional agency to assist the EPFO through the process of appointing multiple fund managers.  M/s. CRICIL was appointed as a consultant.  After following rigorous scrutiny mechanism in a transparent and fair manner, the Committee of Officers short listed 17 out of 21 applicants for inviting request for proposals (RFP).  All the parties were informed of the requirements and technical parameters.  On examination of technical bid, 10 fund managers were shortlisted for financial bid.

            On opening the financial bid,   two fund managers among the shortlisted i.e. namely HDFC AMC, Birla Sun Life AMC., made a bid of 0%. Their bids were rejected after taking a legal advice and that zero bid would not constitute a valid contract.  The Board selected four fund managers on the basis of financial bid.  The fund managers selected and fee quoted by them are as follows:

1.         HSBC AMC                               0.0063%

2.         ICICIC Prudential AMC             0.0075%

3.         State Bank of India                  0.01%

4.         Reliance Capital AMC              0.01%

            It is expected that each year about Rs.30,000 crore would be available as incremental accretion to these fund managers. The monies be managed by them would be in a certain proportion that would be decided later.  Further they would also render custodial services for maintaining the previous investment currently held by SBI.

VBA/


(Release ID :40803)

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