LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Personal Finance News

Beware! Money fraud Alert! Never ever do this! Else, savings amount will go in one go - Important RBI message for you

Following what RBI has said you may save money from the fraudsters.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Beware! Money fraud Alert! Never ever do this! Else, savings amount will go in one go - Important RBI message for you
NEVER SHARE THESE DOCUMENTS
Written By: Prashant Singh
Edited By: Harish Dugh
Updated: Wed, Dec 23, 2020
04:38 pm
ZeeBiz WebDesk
RELATED NEWS
RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details
Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do
Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts
#OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps #OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps
HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements

In a major development and in the interest of consumers, the Reserve Bank of India (RBI) has cautioned against unauthorised digital lending platforms/mobile apps. But, following what RBI has said you may save money from the fraudsters.

RBI said that there have been reports about individuals/small businesses falling prey to the growing number of unauthorised digital lending platforms/Mobile Apps on promises of getting loans in quick and hassle-free manner.

RBI added that these reports also refer to excessive rates of interest and additional hidden charges being demanded from borrowers; adoption of unacceptable and high-handed recovery methods; and misuse of agreements to access data on the mobile phones of the borrowers.

Further RBI says, "Legitimate public lending activities can be undertaken by Banks, Non-Banking Financial Companies (NBFCs) registered with RBI and other entities who are regulated by the State Governments under statutory provisions, such as the money lending acts of the concerned states."

NEVER FALL PREY

RBI says, "Members of public are hereby cautioned not to fall prey to such unscrupulous activities and verify the antecedents of the company/ firm offering loans online or through mobile apps."

NEVER SHARE THESE DOCUMENTS

"Moreover, consumers should never share copies of KYC documents with unidentified persons, unverified/unauthorised Apps and should report such Apps/Bank Account information associated with the Apps to concerned law enforcement agencies or use Sachet portal (https://sachet.rbi.org.in) to file an on-line complaint," RBI said.

Reserve Bank has also mandated that digital lending platforms which are used on behalf of Banks and NBFCs should disclose name of the Bank(s) or NBFC(s) upfront to the customers.

The names and addresses of the NBFCs registered with the Reserve Bank can be accessed here and the portal for filing complaints against the entities regulated by the RBI can be accessed through https://cms.rbi.org.in.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
RBIMoneyFRAUDPersonal FinanceCyber Crime
RELATED NEWS
RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details
Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do Do you have money in this bank? Account holders cannot withdraw over Rs 1000 in cash; Know what you can do
Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts Petrol, Diesel prices may fall in next 2-3 days, Anil Singhvi hopes; Market Guru supports RBI call for tax cuts
#OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps #OperationHaftaVasooli RBI receives complaints against 1,509 digital lending apps
HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements

LATEST NEWS

JK Lakshmi Cement: Sharekhan retains a Buy rating with revised price target of Rs 525

HDFC home loan interest rate today: New rate comes into effect today; SBI, Kotak also offering chance to buy homes at affordable rates

ESIC Recruitment 2021 Notification: Apply online at esic.nic.in for 6552 vacancies to be filled for UDC and Stenographer Posts

Jathi Ratnalu trailer launch: WATCH! Prabhas launches Naveen Polishetty-starrer movie, spots new look

Sensex, Nifty drop over 1 pc amid global equity retreat

UPSC Prelims notification 2021 released: Exam to be held on June 27—check details

Covid 19 new guidelines released - check new orders for religious places, malls, restaurants and more

SBI preferred - Morgan Stanley upgrades Bank of Baroda, Punjab National Bank, Bank of India, Canara Bank

Good news for six crore EPFO members! check how much your Provident Fund (PF) will grow after EPF interest rate for FY21 announced

Gold slides to nine-month low as Powell's remarks make yields rally

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved