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Depositors warned against fraudulent companies

Special Correspondent

PONDICHERRY: The Superintendent of Police (Traffic wing), G. Vijayasundaram, has urged the public to be careful when choosing companies to deposit their money. The depositors should seek the guidance of financial experts while selecting the companies.

At a function held on Thursday to mark the golden jubilee year of the LIC and to introduce a new policy, "Bima Gold," Mr. Vijayasundaram felicitated senior LIC agent V. Selvaraj, who had completed 31 years in the field. The police official said there were cases in the union territory of pensioners, wage earners and others losing their money to dubious unregistered chit companies and private individuals. People must patronize policies introduced by the LIC as these would be of help to the policyholders and to their kith and kin in the event of exigencies.

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