Mar. 16 – Before the Union Budget 2012-13, the Finance Minister of India made the decision to decrease the rate of interest on deposits in the Employees’ Provident Fund to 8.25 percent for 2011-12. This move represents the largest rate cut in over a decade and would be 1.25 percent lower than the 9.5 percent interest rate availed by the Employees’ Provident Fund Organization’s (EPFO’s) 4.7 crore subscribers in 2010-11.