A government official said that Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected for management of Rs 60,000 crore provident fund corpus of coal industry workers.

The board of trustees (BOT) of the Coal Mines Provident Fund Organisation (CMPFO) took the decision in its meeting which was chaired by the Coal Secretary Anil Swarup, who is the Chairman of BOT.

“Out of the four — SBI, UTI, RCAM and ICICI Securities, RCAM and ICICI have been selected for management of about Rs 60,000 crore provident fund corpus of the coal industry workers,” an official said.

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