Do not panic, your money is safe: Pranab assures investors

New Delhi: Assuring the safety of their funds, finance minister Pranab Mukherjee today asked investors not to press panic button over the housing finance racket as the loans were protected, reports PTI.

 “There is no need of pressing the panic button,” Mr Mukherjee told reporters on the sidelines of a seminar on inclusive growth.

 He said loans given by institutions, some of whose officials were arrested in connections with the housing finance racket, are protected.

 “I am in touch with Reserve Bank governor, chairman of Life Insurance Corporation. All the loans which have been given...they are well protected. Money of the investors in these institutions is quite safe,” Mr Mukherjee said.

 Central Bureau of Investigation sleuths had on 24th November uncovered a multi-crore corporate housing-loan racket involving several public sector lenders including LIC Housing Finance and Bank of India.

 

User

Closed-end Funds

Last year, when the market became highly overheated and volatile, fund houses were worried that...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
The Government Knows Best!

Some things you just don’t expect from the government. Like saying: “India is not a particularly...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)