EPFO suspends new investments in LICHF
New Delhi, Dec 9 (PTI) Retirement fund manager EPFO today decided to suspend further investments in the LIC Housing Finance till CBI completes investigations into the alleged involvement of its top official in the bribes-for-loans scam.
“As of now we have suspended further investments in the LIC Housing Finance. Safety of fund is our prime concern.
We are doing so because CBI is investigating the case”, Labour Minister Mallikarjun Kharge said.
Kharge, who was speaking after a meeting of the Central Board of Trustees (CBT)– the highest policy making body of the Employees Provident Fund Organisation (EPFO)– said the EPFO will not invest in LIC housing finance company till the CBI inquiry is not over.
LIC Housing Finance company is the subsidiary of LIC, the largest insurance company in India.