Current Affairs - Miscellaneous - Discussion

The government has decided to keep the interest rate on General Provident Fund (GPF) savings unchanged at 7.1% for the October-December 2023 quarter. This marks the 15th successive quarter where the government has maintained the status quo, ensuring stability for government employees’ retirement savings. The GPF is a government-sponsored provident fund scheme for central government employees. It is a voluntary scheme, and employees can contribute up to 12% of their basic salary to the GPF. The government contributes an equal amount to the GPF account of the employees.