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Banks right to repay high cost deposits
by satheesh t on Apr 19, 2007 03:34 PM

People deposit money in the banks as an investment and in any investment product such as shares,mutual fund ppf,nsc etc there is no option for prepaying the deposit and only when the depositor wishes to withdraw or if the scheme is matured the amount is given back to the depositor then why should banks be given an exemption.if so they must pay prepayment charges also to the depositor.

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Banks want to prepay deposits