RBI cautions public against misuse of cancelled NBFC certificates

Posted By: Religare
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    RBI cautions public against misuse of cancelled NBFC certificates
    The Reserve Bank of India has cautioned public against activities of some entities fraudulently impersonating as non-banking finance companies (NBFCs) registered with the Reserve Bank of India, by forging the Certificate of Registration cancelled by the central bank.

    "It is understood that entities/imposters are promising loans to the needy public at attractive rates and collecting money from them as processing charges for the loans/advances and vanish with the money so collected," RBI said in a notification.

    The regulator has said such fraudulent activities/offers are punishable under the law.

    "Members of public are advised to exercise due caution and not to fall prey to such fraudulent activities/offers and to inform the local police authorities if any such activities come to their notice."

    RBI has also requested the public to not make any payment or financial commitment to any individuals/entities without verifying the veracity of the transaction, the credentials and genuineness of licence or Certificate of Registration issued by the appropriate regulatory authority to function as a financial institution.

    Read more about: rbi
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more