Thursday, May 2, 2013

Odisha: Investors duped of Rs 20,000 cr by fraudulent firms, authorities admit lapse

................The Reserve Bank of India (RBI) lists 17 non-banking financial companies registered in Odisha and none are permitted to raise deposits from investors. But fraudulent companies attract depositors posing as mutual fund firms and even as real estate businesses. With regulatory bodies like the RBI, SEBI, the state finance department and the state police failing to act together, the fraudsters get away with hundreds of crores.........

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