NEW DELHI, March 2 (Reuters) – The board of India’s retirement fund on Monday recommended retaining the interest rate on funds parked with it at 8.25% for the ongoing financial year, the labour ministry said in a statement.

The recommendation for the fiscal year 2025/26, which ends on March 31, was finalised at a meeting between the labour ministry and the central board of trustees of the Employees’ Provident Fund Organisation.

The rate will take effect after the finance ministry’s approval.

“Despite global uncertainties, EPFO has maintained strong financial discipline, ensuring stable and competitive returns without straining the interest account,” the labour ministry said.

The EPFO has a corpus of over 28.34 trillion rupees ($309.74 billion), it said.

($1 = 91.4950 Indian rupees)

(Reporting by Sarita Chaganti Singh; Editing by Mrigank Dhaniwala)