RBI serves closure notice on 84 NBFCs
The Reserve Bank of India (RBI) has initiated proceedings to close 84 non-banking financial companies (NBFCs) for default and filed criminal complaints against many others for cheating the public, the Rajya Sabha was informed on Tuesday.
By TNN |
NEW DELHI: The Reserve Bank of India (RBI) has initiated proceedings to close 84 non-banking financial companies (NBFCs) for default and filed criminal complaints against many others for cheating the public, the Rajya Sabha was informed on Tuesday.
“So far, RBI has filed winding up petitions against 84 NBFCs and criminal complaints in 70 cases and 27 complaints under Section 420 of IPC for cheating members of public,” minister of state for finance Pawan Kumar Bansal said in a written reply in the house.
He said RBI had been taking action against NBFCs which had not complied with provisions of RBI Act or had shown weaknesses in their financial position.
“Such action includes prohibiting the companies from carrying on non-banking financial activity, acceptance of deposits and alienation of assets,” Mr Bansal said.
Wherever the default is persistent in nature, RBI initiates winding up proceedings and also files criminal complaint against directors of the NBFC, he added. In a reply to another question, floating interest rates on housing loans of eight PSU banks vary between 8% to 10.25%, he said.
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Fixed housing rates of Uco Bank, Allahabad Bank, Punjab and Sind Bank, Punjab National Bank, Central Bank of India and three subsidiaries of SBI range between 8.50-11.50%, Mr Bansal said.Download
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