Thursday, June 6, 2013

RBI bars West Bengal Industrial Development Corporation from raising public money

.........In the wake of the Saradha scam, the RBI wants the WBIDC's status as an NBFC converted from deposit-taking to non deposit-taking. The RBI order would also apply to another state government entity, the West Bengal Industrial Development Finance Corporation (WBIDFC), which holds a similar licence to function as a deposit-taking NBFC.................

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