Wednesday, December 15, 2010

RBI CAUTION ON DEPOSIT WITH UNAUTHORIZED NBFCs

The Reserve Bank of India (RBI) issued a cautionary note warning the public not to deposit money with unauthorized non-banking finance companies (NBFCs).The RBI has put up a list of NBFCs that
are permitted to accept deposit on its website. No NBFCs outside of this list can accept deposits from
public .Doing so is clearly fraudulent & has to be investigated by law enforcement in the normal course.

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