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| List of Questions : |
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What is the business of the Company? |
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How much is the total maturity payment of the company? |
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Whether is it registered with RBI/ SEBI/ State Govt.? |
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Is there any guarantee that Company will pay Maturity in time & what is its track record? |
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How much time is required to get any payment & from which Office? |
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Who are the Board of Directors/ Chairman/ Managing Directors? |
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How does the Company invest deposit Money of Certificate Holders? |
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Is there any guarantee that the Agent will keep his commitment given at the time of opening of A/c? |
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What will be the status of certificate , if the money is not paid for the full term or even paid for the full term or even paid after one installment? |
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Can Certificate Holder withdraw money as & when he needs before Maturity? |
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Is there any Schemes like Savings Bank A/c? |
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Can a Certificate be transferred from one office to another with all benefit? |
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Why is the Company’s rate of interest low compared to Bank/P.O./Sahara? |
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Why are there so many formalities for getting Maturity Payments? |
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Why cannot the Company give the certificate on the same day? |
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Can the customer pay through Credit Card? |
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Do you have any Toll Free number? |
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We don’t see much of your advertisements. Why? |
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Do you have any Pension Scheme? |
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Do you have permanent Agents? |
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Why isn’t Peerless entering into Banking / Insurance Sector? |
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I don’t want Insurance Benefit may I get higher interest? |
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Why am I to pay Service Charge? |
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Am I entitled to get Medical Insurance Claims even if I have one another such Scheme with any other Company? |
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Frequently asked Questions by Customers |
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What is the business of the Company ? |
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Peerless is India’s premier Residuary Non-Banking Company (RNBC). The company mobilizes short/medium termed savings in Indian currency and at maturity of the term returns the savings to the person with accumulated interest. Activities of the company are guided by the norms set by The Reserve Bank of India. The company’s more than100% of its investments are in approved category. Consolidating its main business and intensifying its operations across the country, Peerless diversified into other avenues of the Service Sector. Thus emerged a few vibrant enterprises that have already achieved unique distinction in the respective fields – |
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Luxury Hotel Chain– Peerless Inn with properties at Kolkata, Durgapur, Port Blair, Mukutmanipur. |
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Health Care– Peerless Hospital & B.K. Roy Research Centre |
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Financial Services– Peerless Securities Ltd. |
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Real Estate Development– Bengal Peerless Housing Development Co. Ltd. and Peerless Developers Ltd. |
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How much is the total maturity payment of the Company? |
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The total maturity payment is over Rs 15,800 crores. |
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Whether is it registered with RBI/ SEBI/ State Govt.? |
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Yes it is registered with The Reserve Bank of India. (Registration. No. - A-05.05605) |
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Is there any guarantee that your Company will pay Maturity on time? What is its track record so far? |
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Total investment of the company including investments in Government Approved Securities with Current Assets are well above the Liabilities to the depositors as a result the company is capable of meeting its commitment/liabilities to the depositors at any point of time. As of now the company has paid more than Rs.15,800 Cr. with an impeccable track record of 100% maturity payments on time. |
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How much time is required to get any payment & from which Office? |
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Discharge Form is sent to depositor 2 months in advance from the Date of Maturity and payment is sent within 5 working days after receipt of all completed documents including Discharge Form. |
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Who are the Board of Directors/ Chairman/ Managing Director? |
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Sri D.Basu (Chairman), Sri S.K. Roy (Managing Director), Sri Jayanta Roy (Director-Financial Products Distribution), Sri S. M. Datta, Sri A.C. Chakraborty, Sri Deepak Mukerjee, Sri A.K. Chatterjee, Sri B. Lahiri
(Director-Operations), Shri. Pranab Kumar
Choudhury |
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How does the Company invest deposit Money of Certificate Holders? |
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The investment pattern of the deposits in 2005-06 as per RBI Guidelines is not less than
100% in approved Securities and the Balance in Safe Investment with high safety credit rated instruments as approved by Board. |
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Is there any guarantee that your Agent will keep his commitment given at the time of opening of A/c ? |
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Our deposit mobilization are based on commission, incentive etc. Hence this will always attract the agents to mobilize the fund on behalf of the Certificate Holders for their earning. |
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What will be the status of Certificate, if the money is not paid for the full term or even paid after one installment? |
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The money so deposited against a Certificate, which is not paid for full term or even paid for only one installment will be returned to the depositor on maturity carrying the pre-defined interest rates specified in the respective Proposal Form. Unlike Insurance Companies there is no lapsation clause for forfeiture of any kind. |
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Can Certificate Holder withdraw money as & when he needs before Maturity ? |
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In terms of Guidelines of RBI, the Company may repay the deposit amount prematurely in case of Continued Certificates after lock in period of one year against written application, at its sole discretion. |
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Is there any Schemes like Savings Bank A/c ? |
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There are no such schemes like Savings Bank A/C. |
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Can a Certificate be transferred from one office to another with all benefit? |
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Yes a Certificate can be transferred from one office to another with all benefit after thoroughly scrutinizing all the required documents. |
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Why is the Company’s rate of interest low compared to Bank/P.O./Sahara? |
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The rate of return to the depositors is not only the criteria but other benefits and advantages offered like doorstep services, add on benefit, security and liquidity should also be considered. |
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Why are there so many formalities for getting Maturity Payments? |
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The formalities are necessary to verify thoroughly all the documents so that the payment reaches the actual customer or his/her nominee(s). |
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Why cannot the Company give the certificate on the same day? |
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Normally the Certificates are issued on the same day. However, sometimes, it may not be possible for technical reasons. |
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Can the customer pay through Credit Card? |
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No, payment by Credit Card is not accepted. |
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Do you have any Toll Free number? |
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Yes, the Toll Free No. is 1800 345 1932, presently only in West Bengal. |
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We don’t see much of your advertisements. Why? |
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Company invests the customers’ money in different areas against definite commitments. Failure to deposit on time leads to monetary loss to the Company, therefore an interest is charged on delay of deposit to cover up the lost opportunity. |
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Do you have any Pension Scheme? |
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At present we do not have any Pension Scheme. |
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Do you have permanent Agents? |
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Yes and at the same time there are additions and deletions also. There are about 1,00,000 Agents in Peerless network across the length and breadth of the Country striving to give the best of their performance. However, the Company is monitoring the activities of such Field Workers and motivating them through Classroom Training, so that they honor their commitments made to the customers. |
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Why isn’t Peerless entering into Banking / Insurance Sector? |
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Peerless is registered as a Residuary Non-Banking Company with the RBI. For providing the services in the area of Insurance, the Company’s wholly owned subsidiary Peerless Developers Ltd (PDL) is offering the Life Insurance Products of Max New York Life Insurance (MNYL) under the arrangement of Corporate Agency – A One Stop Service in all Financial Products. |
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I don’t want Insurance Benefit may I get higher interest? |
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The Schemes are packaged with add on benefit inbuilt therein, as such no additional interest in lieu of add on benefit is offered. |
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Why am I to pay Service Charge? |
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Non-refundable Service Charge is accepted from the customers of Recurring Deposit Schemes as per the Regulatory Direction of RBI for taking care of the expenses for administering the Schemes. |
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Am I entitled to get Medical Insurance Claims even if I have one another such Scheme with any other Company? |
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Yes. Normally the Insurance Company pays on the Life of individual subject to the ceiling of Insurance Cover on the actual claim whichever, is lower. |
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