RBI asks people not to invest in illegal finance companies
August 31st, 2012 - 5:47 pm ICT by IANSUdaipur (Tripura), Aug 31 (IANS) The Reserve Bank of India (RBI) Friday asked people in the northeast not to deposit money in unauthorised non-banking financial companies (NBFCs) and institutions expecting hefty returns.
“People should not deposit their hard earned capitals in unauthorised and illegal NBFCs and institutions expecting of getting heavy returns. The people should also inform the RBI and the appropriate authorities on these NBFCs’ acts and lodge complaints against the banking services,” B.B. Sangma, banking Ombudsman for northeastern states, told reporters.
Senior RBI official P.N. Murthy said 118 NBFCs were functioning in Tripura and none of them have registered with the RBI or any authorised bodies.
The Central bank officials were speaking to mediapersons on the sideline of a banking awareness programme at Udaipur in southern Tripura, 55 km south of Tripura capital Agartala.
They also asked people to lodge complaints and grievances, if any, about the services of any bank.
“The RBI has taken actions against huge number of complaints on ATM (Automated Teller Machine) and credit card frauds, fraudulent SMS (Short Messaging System) and e-mails, misdeed of NBFCs,” Sangma said.
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- Tripura gets tougher law for illegal financial firms - Aug 18, 2011
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- Staff of illegal non-banking bodies arrested in Tripura - Jun 12, 2010
- Actions against illegal NBFCs in Tripura to continue - Jun 20, 2010
- RBI proposes new regulations for non-banking finance firms - Aug 29, 2011
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- No RBI approval needed for bank branches in northeast: minister - Dec 30, 2010
- RBI to launch schemes for raising credit flow to northeast - May 20, 2011
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