NEWS & ADVICE : FIXED DEPOSITS
Crore made from small depositors by Nidhi firms
By Neelima Shankar
Nov 29, 2013
Print    Email    RSS   

After the Saradha plunder, an alternate risk is prowling in the currency market holding up to eat up little investors. Numerous firms acting like "banks" are putting forth premium rates higher than that of banks on fixed deposits, when the Reserve Bank has issued no managing an account license in the most recent 10 years. One such "bank" has even set up bulletins over the city welcoming deposits. It offers loans against mortgages.

As per the branch of corporate undertakings, these organizations have recently wiped up about Rs.5,000 crore from the business sector. In the previous year and a half, the Centre has set up a master bunch on Nidhi organizations which suggested an alteration to the present law for the purpose of investors being selected as MBS members for a membership of just Re 1. Prior, an alternate advisory group had indicated the peril in its show up for the corporate issues service.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Fetch higher interest rate on your savings...
Sweep in to Auto Sweep savings A/c
Financial planning: a tool to retire...
Recurring deposits: to the benefit of the...
How to Invest to Save?


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive