Post office customers allege malpractice, protest
The Khanakul MLA Susanto Ghosh has assured to be at the side of the affected depositors.
Haryana government has decided to form a new Non Banking Financial Company (NBFC) namely Haryana State Financial Services Limited to act as an in-house treasury manager for efficient management of surplus funds of state public enterprises and autonomous bodies of the state.
This decision was taken at a meeting of the state cabinet which held under the chairmanship of Chief Minister, Manohar Lal Khattar, on Tuesday.
The NBFC will provide better deposit rates on overnight funds of state government entities. Besides, it would provide better deposit rates throughout the year to state government entities. It would also provide much better lending rates to state government entities than banking industry.
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The NBFC would enable quick and hassle free lending and create financial discipline among the state government entities. It would also result in centralized mechanism for prudent management of funds under the overall control and supervision of the General Administration Department.
The authorised capital of the company will be Rs 10 Crore and the paid up capital will be Rs Two Crore in the first instance.
The company will advance, deposit, lend money or provide financial assistance with or without security to the state government, a body corporate, government company, state or municipal body, local body, wholly owned or semi owned by the government. It will carry on the business of a finance company and provide short or long term loans to the state government entities.
Meanwhile, to check the increasing number of willful financial irregularities and frauds committed by the Chit Fund Companies and to protect the interests of small investors in Chits, the Haryana Government has decided to frame Haryana Chit Fund Rules, 2018 to provide a mechanism for effective implementation of the Chit Fund Act, 1982.
These rules would provide a mechanism to protect the hard earned money invested in such Chit Fund Companies by the investors.
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