The Ministry of Railways has announced that the State Railway Provident Fund will have an interest rate of 7.1% from April 1, 2023, to June 30, 2023.
This information is based on a resolution from the Ministry of Finance, Department of Economic Affairs. This announcement was made in a letter addressed to the General Managers/Principal Financial Advisers, All Zonal Railways/Production Units, DGs of RDSO and NAIR, requesting that necessary action be taken.
State Railway Provident Fund-Rate of interest during the 1st Quarter of financial year 2023-24
GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS
(RAILWAY BOARD)
No. F(E)I/2003/PF-1/1
New Delhi, Dated: 20.04.2023.
The General Managers/Principal Financial Advisers,
All Zonal Railways/Production Units etc.,
DGs of RDSO and NAIR.
Subject: State Railway Provident Fund-Rate of interest during the 1st Quarter of financial year 2023-24 (1st April, 2023 – 30th June, 2023).
A copy of Ministry of Finance, Department of Economic Affairs’ Resolution F.No. 5(3)-B(PD)/2023 dated 10th April, 2023 prescribing interest at the rate of 7.1%(Seven point one percent) w.e.f. 1st April, 2023 to 30th June, 2023 on accumulations at the credit of the subscribers to State Railway Provident Fund, is enclosed for information and necessary action.
(Sanjay Prashar),
Deputy Director, Finance (Estt.) III,
Railway Board.