Thursday, May 2, 2013

Saradha due to formal financial system's failure: RBI

......“The fact that people have to rely on such entities (chit funds) for their saving needs indicates a failure on the part of the formal financial system to reach out to such groups and earn their trust and confidence through a transparent and responsive customer service regime” said K C Chakrabarty, Deputy Governor, RBI, at an event in Pune yesterday........

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