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English Release 26-March 2015
Date Month Year
  • President's Secretariat
  • Probationers of Indian Postal Service and Indian P&T Accounts and Finance Service call on the President
  • Emir of Qatar calls on the President
  • Vice President's Secretariat
  • DELEGATION OF CPWD OFFICER'S WIVES ASSOCIATION CALLS ON VICE PRESIDENT
  • It is Disappointing that even Country’s Top Universities Remain Largely Teaching-Focused with Limited Research and Doctoral Education-Vice President
  • Prime Minister's Office
  • PM calls for
  • Bihar CM calls on PM
  • Delegation meets PM to discuss issues related to Jat Community
  • PM greets the people of Bangladesh, on their Independence Day
  • AYUSH
  • Ayushman Bharat on Doordarshan
  • Election Commission
  • Biennial Election to the Council of States from Kerala.
  • Min of Agriculture
  • Union Agriculture Minister emphasises that the Prime Minister attaches importance to revitalization of the Agriculture Sector through modernization of farming practices
  • Min of Coal
  • Coal Minister Launches Projects Monitoring Portal to Enhance Efficiency, Transparency & Improve Communication Between B2G, G2G & G2B
  • Min of Comm. & Information Technology
  • Consumer Outreach Programme by the Telecom Regulatory Authority of India (TRAI) at Delhi
  • Spectrum Auction Concludes with Over 88% Of Spectrum Offered Provisionally Committed
  • Min of Earth Science
  • Total Eclipse of the Moon on Saturday
  • Ministry of Finance
  • NTPC Ltd. Becomes First PSU to Issue Bonus Debentures;
  • Government of India Releases an Amount of Rs. 805.17 Crore to the Government of Punjab Under National Small Savings Fund (NSSF) and Thereby Released Total Amount of Rs. 2045.16 Crore During the FY 2014-15
  • India Signs Loan Agreement with ADB for $300 Million for Improving Regional Road Connectivity along the North Bengal-North Eastern Region (NER); About 500 Km of Roads to be Constructed under the Program
  • Financial Assistance of Rs. 250 Crore to Andhra Pradesh for Setting up SPV for the Polavaram Irrigation Project
  • Amendment to Exchange Rates of Foreign Currency Notification No. 32/2015 - Customs (N.T.) Dated 19th March, 2015
  • Min of Home Affairs
  • Kiren Rijiju attends Hans Raj College Alumni
  • Holding of additional charge of the post of DG, BPR&D
  • Min of Personnel, Public Grievances & Pensions
  • Massachusetts Institute students call on Dr. Jitendra Singh
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 53.31 per bbl on 25.03.2015
  • Ministry of Railways
  • RWWCO Honouurs 35 Railway Women Employees or their Outstaning Performace
  • Min of Science & Technology
  • National Institute of Immunology (NII) Signs MoUs to Promote Science Education in Colleges
  • Min of Shipping
  • Cabinet Decisions for Shipping Sector Revolutionary, says Nitin Gadkari
  • Min of Textiles
  • 29th India Carpet Expo starts tomorrow

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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