"CUSTOMERS OF SEVERAL CHIT FUNDS:'We
will do Pre-Mature closure of all our deposits in the chit fund
companies and start depositing it in any Nationalized Bank of India.
But, we are concerned that PSU Banks may start reducing the interest
rates on Term Deposits as their cost of operation will increase after
so many deposits from the Chit Fund customers.' MANAGERS OF PSU
BANKS:'If RBI reduces the repo rate by 25 basis points in their next
meeting, then, surely, the PSU Banks may also raise the interest
rates on Term Deposits rather than reducing it. Anyway, any
investment in any PSU Bank is safer than investing in any Chit Fund
company of India.'"-Arindam Sain
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