RBI takes steps to prevent frauds in non- banking orgs against small investors
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RBI has started taking steps to prevent frauds in non- banking organisations against the small investors, and mechanism are being put so that those organisations, which do not abide by the RBI guidelines, could be prosecuted.
Speaking to media in Ranchi, the Regional Director of Bihar - Jharkhand of RBI M K Verma said that non-banking organisations can invest people's money in the market, but they can not invest in market by taking loan from the banks. Mr. Verma also said that a designate court would be established in Jharkhand under Protection of Interest of Depositor Act.
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