New Delhi, June 27: Agreeing to a partial rollover of interest rate, the central board of trustees of EPFO today asked Industrial Finance Corporation of India (IFCI) to pay 10 per cent on bonds issued by it for the next 10 years starting from this fiscal. "IFCI will have to pay at 10 per cent for the next 10 years till 2013. Upto March this year, IFCI will have to pay the agreed coupon rate ranging from 12 to 14 per cent," labour minister Sahib Singh Verma told reporters here after the 162nd meeting of the EPFO board.

Having paid at nine per cent to EPFO for the last two years, the troubled term-lending institution would have to pay up another Rs 30 crore if it has to clear its arrears till March, 2003, Verma said, adding it was the precondition for rollover.
From 2003-04 onwards, IFCI had offered nine per cent to which EPFO responded that IFCI would have to pay at 10 per cent. Bureau Report