RBI Cautions against Misuse of cancelled NBFC Certificate of Registration

It has come to the notice of the Reserve Bank of India that some entities/imposters, includ­ing com­pa­nies, part­ner­ship firms, indi­vid­u­als, etc., are fraud­u­lent­ly imper­son­at­ing as Non Bank­ing Finan­cial Com­pa­nies (NBFCs) reg­is­tered with the Reserve Bank of India, by forg­ing the Cer­tifi­cate of Reg­is­tra­tion can­celled by Reserve Bank of India. 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.

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.

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

Be informed! Be Safe!