...............The State Government has administrative limitation in enforcing the fair practice code prescribed by the RBI which necessitates unavoidable intervention by the Central Government. In view of this, the RBI was requested to take effective steps to check and control the rampant growth and operation of unlawfully functioning NBFCs,” Chennithala said in the letter. “However I feel that necessary directives from the Central Government to the RBI and all public sector financial institutions working in our state is necessary,” he said...........
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