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Aug 22, 2014
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RBI lens on illegal deposit-taking entities
The Reserve Bank of India (RBI) is working with the government to bring about changes in the law to regulate the entities illegally accepting deposits from the public, Deputy Governor R Gandhi said on Thursday.
“There are a number of companies that are registered as finance companies but are not regulated by the Reserve Bank. There are incorporated companies and unincorporated entities illegally accepting deposits. The laws these days are inadequate to deal with these issues.
Source -
http://www.business-standard.com
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