Ministry of finance amends it earlier notification on investment pattern to be followed by Non-Government provident fund

The Ministry of Finance vide notification dated 11th December 2019, has brought in a new amendment to its earlier notification dated 2nd March, 2019 on the pattern of investment to be followed by Non-Government Provident fund.

The Amendment is brought under category ii which relates to debt instruments and related investments where minimum 35% and up to 45% of the amount to be invested in which a new clause g is inserted, reads as follow:

“Units of Debt Exchange Traded Funds (ETFs) regulated by the Securities and Exchange Board of India and managed by an asset management company appointed as per an agreement with Government of India, specifically meant to invest in the bonds of the Central Public Sector Enterprises (CPSEs), Central Public Sector Undertakings (CPSUs), Central Public Financial Institutions (CPFIs) and other Government organizations “

Click here to read the Notification.