Contact Your Financial Adviser Money Making MC
23 September 2016
The
Rajasthan government on Thursday gave "in-principle" approval to the
Rajasthan Protection of Interests of Depositors (in Financial Establishments)
Ordinance, 2016, at a cabinet meeting held here. The Total Investment & Insurance Solutions
Rajasthan's
Parliamentary Affairs Minister Rajendra Rathore said that the main aim of the
ordinance is to protect the interest of depositors in case of fraudulent
default by any financial establishment. The
Total Investment & Insurance Solutions
"The
ordinance will be sent soon to the President of India through Governor for his
consent," said Rathore in a statement. The Total Investment & Insurance Solutions
According
to the provision in the ordinance, if financial establishment defaults any
repayment of deposit on maturity along with any benefit as promised or fails to
render service as assured against the deposit, owners/operators of such
financial establishment shall be punished with imprisonment for a term from
three to seven years and with fine from Rs 2 to 5 lakh.
Provision
has also been made regarding attachment of properties on default of return of
deposit.
The
cabinet also approved the proposal to establish Nirwan University on 34 acres
of land at Jhar Bassi near Jaipur by Shri Nirwan Charitable Trust, Sri
Ganganagar.
The
university, which is likely to entail an investment of Rs 250 crores, will
provide courses and research facility in subjects like medical, dental,
nursing, physiotherapy, life sciences, pharmacy and homeopathy etc.The Total Investment & Insurance Solutions
No comments:
Post a Comment