Hyderabad : The Reserve Bank of India has clarified that no company/entity named Forex Achievements is registered as a company under the Companies Act, 1956, a pre-requisite for obtaining a Certificate of Registration (CoR). The CoR dated April 7, 2010, displayed by the entity on its Web site is fabricated and not issued by the RBI. Therefore, members of the public are cautioned not to deposit money with such unincorporated bodies. The RBI said it has come to its notice that some entity, which seems to be foreign is operating in India and doing Non-banking financial institution (NBFI) business, including acceptance of deposits, without obtaining a CoR. The company is misusing the name of RBI by displaying a fake CoR on its Web site for collection of deposits from the public. Persons depositing money with such unincorporated bodies would be doing so at their own risk, the RBI said in a press release. The public is hereby warned to be cautious in making investments with such entities. Before making investments, they are advised to visit the Web site of the Reserve Bank of India to check whether the companies they are placing deposits with are registered with the Reserve Bank and entitled to hold deposits. The names of such companies are available on RBI's web site at www.rbi.org.in.
Business Line
No comments:
Post a Comment