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Tamil Software
அழகி மென்பொருள்
  
Tamil-English bilingual webmagazine dedicated to education of the masses through E-books, articles, worldwide informations, Slideshows,
Presentations on various subjects, photographs and images, moral and objective oriented stories and Lectures including audio and video

Safeguarding depositors

Courtesy: Vijayaragavan, Coimbatore

Punjab Cabinet approves bill on safeguarding depositors

The Bill envisages in case of non-return of depositors' money or any fraud, the defaulter company will attract imprisonment up to six years and fine up to Rs. 1 lakh and allows to attach properties of managers or owners of such company.

Chandigarh: The Punjab Cabinet has approved a bill to safeguard the interest of general public and save them from fraudulent practices of private non-banking finance companies (NBFCs), reports PTI.

The Punjab Protection of Interests of Depositors (in Financial Establishment) Bill, 2012 envisages in case of non-return of depositors' money or any fraud, the defaulter company will attract imprisonment up to six years and fine up to Rs. 1 lakh, an official spokesman said.

Properties of managers or owners can also be attached, he said.

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