Kolkata : Peerless employees have urged the Reserve Bank of India (RBI) to allow Peerless General Finance & Investment Company to re-start the residuary non-banking company (RNBC) business which was stopped in April, 2011. In a memorandum to RBI Deputy Governor Anand Sinha, the All India Peerless Employees'' Union has said that the company be allowed to carry out with the RNBC business till an alternate business model emerged. The memorandum said that Peerless was having a net-owned fund of Rs 1350 crore as of March 31, 2011 and had paid Rs 18,000 to depositors on maturity. It also said that livelihood of the employees'' families were at stake due to closure of the RNBC activity. Earlier, the Peerless management had also submitted a similar request to RBI. Peerless was having 1500 office staffers and 50,000 field employees.
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