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RBI opens stall to make people aware of “risky” investments in chit funds
TIWN
RBI opens stall to make people aware of “risky” investments in chit funds
PHOTO : RBI Building, Agartala. TIWN Pic

AGARTALA, February 23 (TIWN): For the first time the Reserve Bank of India (RBI), State Bank of India (SBI) and UCO Bank has opened stalls in the 33rd Agartala Book Fair, 2015 at Umakanta Academy Ground to make people aware of “risky” investments in chit funds.

According to a RBI official the main of objective of the RBI is to make people aware of “risky” investments in chit funds. The chit funds collected Rs 1,500 crores from people in Tripura.  Apart from the awareness campaign RBI is also exchanging notes with coins because the state is facing a crisis of coins for the last couple of months. For the last couple of months the people of the state are facing lots of troubles because there was a huge crisis of coins in the state.

 A total 37 Non-Banking Financial Companies'(NBFCs) cases of the state have been handed over to CBI through the central government. Out of the 37 cases the CBI has taken only six cases of NBFCs and no charge-sheet of the six cases taken by CBI has been made yet. Till date neither CBI nor the state government could ensure the repayment of the commoners’ money so far.

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