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  • deposit frauds govt proposes insurance cover hefty penalties

    Deposit frauds: Govt proposes insurance cover, hefty penalties

    Business | Oct 22, 2013, 11:38 PM IST

    NEW DELHI: To safeguard investors from fraudulent money-collection schemes, the government today proposed mandatory insurance cover for public deposits garnered by companies and hefty penalty of up to 18 per cent annual interest for defaulters.The