RBI starts scrutiny of companies suspected of illegal money raising

As part of its efforts to protect gullible investors from fraudulent investment schemes, the Reserve Bank has started scrutinising credentials of companies suspected of illegally raising money from public as NBFCs. The central bank’s action follows the Corporate Affairs Ministry sending a list of more than 34,700 firms that came under its scanner for allegedly pooling money as non-bank finance companies (NBFCs).


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