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Raghuram Rajan: 'Need to tackle illegal deposit raising while the act is live'
Fri, Aug 05, 2016
"I suggest all of us should ask, if they have got Rs 50 lakh to give me, why do they need me to send Rs 25,000 in the first place? Why can't they just deduct the Rs 25,000 and send me the remainder?' That question should be asked by anybody who gets such a solicitation," Rajan said at the launch of a website to tackle illegal deposit collection.
RBI's Rajan launches 'Sachet' to curb illegal collection of deposits
Thu, Aug 04, 2016
The website incorporates regulations prescribed by all financial regulators that different entities have to follow.