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  • Category: Miscellaneous

    Please Don't Invest in any Unknown Finance company

    Hi Friends,

    Today I wish to say about the most important matter that we always think, i.e Investing the savings amount. Please never invest amount in any finance company's because they may be fraud or loyal to your money. We cannot just judge any body like that but still before investing our hard earned money we have to think about it twice before investing. One small example I wish to say about finance company's. Few years back we all must have heard about " saravana finance". Most of the people invested there for the sake of high interest given by them and who ever invest in the first few month's they were given a half gram coin also. It was very popular finance in coastal area's many of our relative's had invested the entire service amount there. For few months it run very well but one fine day morning the finance company was closed, the manager of the finance company was absconding till today he is not found. He had garbed money from lakh's of people. During that period I couldn't see my relative's difficulty. Most of them had lost everything. In that one of my sanskrit teacher had also invested his entire retirement amount. When the finance was closed he had a shock and all of a sudden was bed ridden.

    So please my dear friends always think and invest your hard earned money.

    I really thank indiastudychannel.com for giving a chance to write in a forum about finance.
  • #573650
    We have heard about so many scams involving such frauds. Last year there was much hullabaloo about the Saradha Group financial scandal in West Bengal. According to the newspaper reports the chit fund companies have duped individuals of at least Rs 80,000 crores in India.
    Small investors in the states of West Bengal, Assam, Odisha, and Tripura have been duped of Rs. 31,000 crores and one company in Punjab and other northern states have defrauded the investors to the tune of Rs. 51,000 crores.
    Such companies/fraudsters exploit the human greed to multiply their money overnight.
    The normal and natural returns in banks are presently in the range of 8% in the case of fixed deposit etc. There may be certain safer investment options like mutual funds etc. managed by reputed companies which may yield returns of 12% or more.
    In my opinion, any investment scheme which offers returns @ exceeding 12% should be viewed with suspicion.

    Let us encourage each other in sharing knowledge.


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