Private funds to manage PF money
Just seven days after the left stepped out, the government is appointing 3 private players to manage the huge corpus of the employees provident fund organisation or EPFO. ICICI Prudential, HSBC mutual fund and Reliance mutual fund will now fight with SBI which also bid for a share, but will continue handling the largest chunk of EPFO funds, adding up to 2.20-2.40 lakh crore.
