Keep savings with nationalised banks, Minister tells people

Puducherry, Oct 30 (UNI) Puducherry Home Minister E Valsaraj today called up on the people to keep their savings with nationalised banks instead of depositing in private finance companies and getting cheated.

Inaugurating the World Thrift Day celebrations here, Mr Valsaraj said eventhough the target for collections through small savings was Rs 150 crore, only Rs 18 crore netted so far.

Due to financial crisis several schemes could not be implemented immediately, he said the administration was contemplating several measures to boost the financial position of the administration.

In view of the financial crunch the government medical college was being handed over to the ESI Corporation. The crisis was affecting the price index also, he said adding that the administration could not regulate the price of essential commdities here while in the border areas of Tamil Nadu, the price index was stable since, the state was not experiencing any financial crunch.

He suggested for introduction of single window system to attract more private entrepreneurs to start industrial units in the Union Territory.

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