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Combined Defence Services Examination (I), 2010

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The Union Public Service Commission will hold the Combined Defence Services Examination (I), 2010 on February14, 2010 for admission to Indian Military Academy, Naval Academy and Air Force Academy for the Courses commencing in January 2011 and Officers Training Academy, Chennai for the Courses (Men and Women) commencing in April 2011.

For details regarding the eligibility conditions, syllabus and scheme of the examination, centers of examination, guidelines for filling up application form etc. aspirants must consult the detailed notice of the examination published in the Employment News/Rozgar Samachar dated September 26, 2009. Details are also available on UPSC website i.e.http://www.upsc.gov.in.

Candidates must apply in the Common Application Form devised by the Commission for its examinations, which can be purchased from the designated Head Post Offices/Post Offices (specified in Appendix-III of the Notice) throughout the country.

In case of any difficulty in obtaining application forms from the designated HPOs/Pos, the candidates should contact the concerned Post Master or UPSC’s “FORMS SUPPLY MONITORING CELL” over Telephone no.011-23389366/Fax No.011-23387310.

The last date for all applications to reach the UPSC is October 26, 2009. However, in respect of candidates residing abroad or in certain remote areas specified in the Notice, the last date for receipt of application by post/speed post only (not by hand or by courier) is November 3, 2009.

In case of any guidance/information/clarification regarding their application, candidature etc. candidates can contact UPSC’s Facilitation Counter in person or over Telephone No.011-23385271/011-23381125/011-23098543 during working hours.

Invest 5 percent of provident fund in equities: Assocham

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The Associated Chambers of Commerce and Industry (Assocham) has urged the central government to allow the Employees Provident Fund Organisation (EPFO) to invest at least 5 percent of its funds in equities. “The EPFO can also be a beneficiary of such emerging capital markets, provided it is permitted to invest a part of its corpus in index-based equity market - which is safer, reliable and remunerative,” Assocham said in a report.

EPFO, which has a corpus of about Rs.2.6 lakh crore, has been paying 8 percent interests to its subscribers, partly from its reserves, Assocham president Sajjan Jindal said.

“It hardly earns reasonable returns on its investments in government securities and bonds,” he said.

Therefore, the time has come for the Central Board of Trustees (CBT) to “honour the recommendation of the finance ministry for nearly 5 percent EPFO fund channelisation in equities”, Jindal said.

According to the industry lobby, the risk factors in such investment can be managed by sound financial tools. Fund managers can be hired to mange such investments in equity, Assocham said in the report.

“Equity markets historically have given the best returns across any asset class in the long-term. The index-based companies have huge market cap and are subjected to stringent regulatory norms,” it added.

The existing return on investments is not sufficient to meet the current expenses and therefore “alternative, prudent sources” must be explored to increase the return, the paper said.

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