ANDHRA PRADESH

Police, bankers educate people on economic offences

KARIMNAGAR, AUG. 14. In an ambitious move, the Karimnagar town police and the Bankers Club have jointly organised a meeting to sensitise people on economic offences, here on Saturday.

Ineffective laws

Speaking on the occasion, the Karimnagar DSP, Y. Sai Narsa Reddy, stressed on the need to strengthen existing laws to curb economic (white-collar) offences.

Expressing concern over the ineffective laws, which allow the offenders to go scot-free, he suggested that an Act be brought into force to deal stringently with white-collar offenders and also ensure recovery of property.

Dubious claims

He called upon people not to get carried away by tall claims made by the private finance companies of offering high interest and instead invest their hard-earned money in nationalised banks for safety and security.

The Town CI, J. Amarender Reddy, also spoke on the occasion.

The Syndicate Bank manager, Subash Mahapatra, wanted people to grill the private finance companies, who promised higher interest on deposits, on how they would be doing so.

Rally held

Later, a rally was taken out from Kalabharati to the Collectorate carrying placards cautioning people against dubious private finance companies.

The State Bank of Hyderabad branch manager, Hanumanth Rao, the One Town SI, A. Mahesh, the Two Town SI, R. Prakash, the Women's Police Station SI, Nageshwari, and the Traffic SI, Venkat Narsaiah, were also present.

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