the retirement fund manager under the union labour ministry,
raised on Thursday interest rate on deposits for its 60 million subscribers
to 8.65% for 2018-19, paring its reserves to the lowest level in three years.
This is a 10 basis point increase from the
announced by the retirement fund for 2017-18. It is the same as
in 2016-17 but less than the 8.8% paid out in the previous years.
One basis point is one-hundredth of a percentage point.