ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Castor Futures Call for Probe

\y invested in growth scrips, since the relaxation of laws relating to investment of their funds.
The Central Provident Fund Act covers only factory workers. Provident funds of other categories of employees are managed by trustees nominated by employers and employees. These funds have also to invest their monies entirely in Government bonds. The total amount and yearly accretions to these funds are also considerable. The liberalisation of approved investments for the Central fund will have to be extended to these funds also. This would, however, raise the question of judicious management of funds by the respective trustees and might create possibilities of misuse. One approach could be to merge these funds into a central organisation, subject to investment regulations roughly similar to those applicable to LIC.

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