ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Disciplining RNBCs

For the few large companies that dominate this sector, the seal of regulatory approval by RBI is their most invaluable asset generating trust among their prospective depositor, mostly in rural and semi-urban communities and ensuring that deposits raised are in accordance with the terms and conditions approved by the RBI and that reasonable safeguards have been installed against default and misuse of funds. But the smart among them manage carefully to stray away carefully from the regulator's watchful eye. Some of the activities they engage in are arguably in the disputed border zone and some safely sheltered in no man's land.

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