Report No. 143
2.2 Response.-
A large number of depositors responded to the press release. They conveyed their distress on account of their inability to secure repayment of the deposited amounts. Many of them have suffered serious hardship as they could not avail of the invested sums for meeting the contingencies which they had anticipated at the time of the investment, such as for meeting expenses of daughter's marriage, children's education, etc.
The Commission received about 5,000 complaints from depositors whose deposits remained unpaid beyond the date of maturity. Out of these 5,000 complaints about 4750 i.e., 95% emanate from depositors whose deposits are in the range of less than Rs. 11,000. The percentage of unpaid deposits of this category of small depositors is as high as 95%.
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