Kerala Govt G.O (P) No.533 GIS Rate of Interest Increased

Kerala Govt G.O (P)No533/13/Fin, Dated 25.10.2013. GIS Rate of Interest Increased from 8% to 8.6%
Govt of Kerala has increased GIS rate of interest for its employees and released a G.O regarding this hike.
Finance Department - GIS - Enhancement of rate of interest- Orders issued.
The Government of lndia have enhanced the rate of interest allowed for the savings fund of Group lnsurance Scheme for the Central Government Employees from 8% to 8.6% with effect from 01.12.2012 onwards; vide Office Memorandum read as 4th paper above. The Group lnsurance Scheme for the State Government is analogous to that of Central Government Employees and errhancement and reduction of rate of interest whenever made by the Central Government is applicable to the State.
Government after examining the matter, are pleased to order that the rate of interest for the accumulation in the Savings Fund of Group lnsurance Scheme will be enhanced from 8% to 8.6% w.e.f 01.12.2011 onwards.

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