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Previous Year Questions

Get Detailed Solutions for Previous Year Questions for Bank, SSC, Railways and Other Popular Government Exams

RBI Grade B Phase 1 PYP >> May 28, 2022 - Shift 1 >> General Awareness

Question :

In March 2022, The Labour Ministry proposed to slash the EPF interest rate by ___________.

1. 0.2%

2. 0.4%

3. 0.6%

4. 1%

5. 5%

Correct Answer : 2
Solution :

The Labour Ministry has recently proposed to slash the interest rate by 0.4% to 8.1% from 8.5% earlier for the FY 2021-22. In March 2020, the EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5 per cent for 2019-20, from 8.65 per cent in 2018-19. The 8.5 per cent interest rate on EPF deposits for 2020-21 was decided by the Central Board of Trustees (CBT) in March 2021.

[March 2022 News (exam date- 28 May 2022)]

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