COIMBATORE: The trial of the multi-crore financial fraud involving Paazee Forex Trading Firm began at The Tamil Nadu Protection of Interests of Depositors (TNPID) court here on Friday. Two officials from the Reserve Bank of India (RBI) appeared for cross examination to verify whether the tainted firm had sought permission from RBI as per the required norms. The firm's three directors were produced before the court. Shanthini Moolchand, Deputy General Manager of RBI, Mumbai, was prosecution witness number one who appeared before the court and Public Prosecutor (PP) S Natarajan cross examined her. She had explained that non-banking financial institutions needed permission from RBI, but Paazee forex trading firm failed to do so...........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment