MUTHOOT CO. FIXED DEPOSITE SCHEME
keshav lahoti
(Querist) 23 August 2012
This query is : Resolved
muthoot finance is providing fixed deposite scheme in various attractive intrest rates. Recently a order was issued by RBI that muthoot fincorp can't accept the deposite any more from public.
now, i want to ask it is safe to make deposite in muthoot finance co.?
second ques, If guideline is issued by rbi to muthoot fincorp of not accepting deposite then it is not seems that it also applicable on Muthoot finance co because both are NBFC co. and last thing is in consideration of fixed deposite they issue debenture certificate which i want to know whether it is form of public deposite and if yes they are providing very high rate of intrest which is not payable by one one within the country. please guide me the solution for this.
keshav lahoti
(Querist) 23 August 2012
I wnt to ask revelent provison for this is, it safe to make fixed deposite.
malipeddi jaggarao
(Expert) 24 August 2012
Debentures issued by the Company are equal to fixed deposits. Debenture is a certificate issued by the company as a proof borrowing from the investor. It is not a fixed deposit. According to me, if any company pays higher interest rates which are not in near comparability with others, the investment is not safe.
