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3,000 private finance firms come under RBI scanner
July 23, 2013July 23, 2013by In Infrastructure Finance

3,000 private finance firms come under RBI scanner

About 3,000 private finance companies carrying out non-banking finance operations without requisite registration have come under the scrutiny of the Reserve Bank of India (RBI). RBI has started the scrutiny of the firms in the wake of concerns about their actual business activities. RBI's move comes against the backdrop of the government efforts to crackdown on entities, that are illegally raising large amounts of money from the public.