FAQ:- Gwalior Citizen Sakh Sahakari Sanstha Maryadit
• How does the Gwalior Citizen Sakh Sahakari Sanstha Maryadit utilize the funds/deposits obtained by it ?
The Gwalior Citizen Sakh Sahakari Sanstha Maryadit uses the funds in lending to the members and investments as per the Mutual Benefit act/rules/by-laws. Our lending is in the shape of small loans for business & Micro Finance.
• Are the deposits with the Gwalior Citizen Sakh Sahakari Sanstha Maryadit safe & secured?
Yes, because Government of India has framed the laws/rules to ensure the security and safety of deposits and Gwalior Citizen Sakh Sahakari Sanstha Maryadit strictly abides by the rules and regulations framed by State Government. The State Mutual Benefit Act,
• How the Gwalior Citizen Sakh Sahakari Sanstha Maryadit is different from other Financial Institutions?
Gwalior Citizen Sakh Sahakari Sanstha Maryadit is not a personal institution owned by an individual but is a fully democratic organization managed by Board Of Directors who are elected by the members of the Mutual Benefit in the Annual General Meetings and the Board Of Directors also take decisions in a collective manner with total transparency. The department of Mutual Benefit constantly reviews the functioning of the Mutual Benefit at regular intervals.
Finance companies are usually owned by individuals and frame the so called policies according to the whims and fancies of the owners. The general members/ depositors/ Investors have no role to play. There are some possibilities for the absence of transparency. Members/ Investors have virtually no knowledge of the affairs/ legal provisions of N.B.F.Cs and the statutory liabilities of the N.B.F.C s are also limited.
Gwalior Citizen Sakh Sahakari Sanstha Maryadit is completely live to its legal liabilities and answerable to its members through its elected members of the Board Of Directors. Books of accounts of Gwalior Citizen Sakh Sahakari Sanstha Maryadit subject matter of Statutory Audit and the Audited Accounts are submitted to State government of Rajasthan for review and further action, annually. When you invest your money in Gwalior Citizen Sakh Sahakari Sanstha Maryadit. you are not only an investor you are a member of the society.
• Why the Gwalior Citizen Sakh Sahakari Sanstha Maryadit is paying ‘Higher Rate of Interest’ to its members/ Investors?
We believe in the principle of encouraging saving habits amongst our members. In the present context when tendency to save is on the decline and the consumerism is on the high. We want to ensure the financial and social well being of our members as a moral responsibility towards the Mutual Benefit. As a true nationalists we are convinced that higher the savings, higher the investment better the G.D.P.
• Who can invest with Gwalior Citizen Sakh Sahakari Sanstha Maryadit.?
All those investors/depositors who are keen to get better returns/interest on their deposits in short term, medium term and long term. So all of you are welcome.
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