Deposits With Manappuram – RBI Issued Warning ?

Many private bankers and financial companies are accepting deposits from the general public by offering attractive interests and other offers. and the techies are also investing a lot of their hard earned money by thinking of their future financial requirement, since there are no pension schemes like the govt servants. Most of the times we are trusting the companies which is appearing in newspapers, TV commercials, and especially when the celebrities are promoting the brand.

But shockingly, The Times of India reported that, The RBI ( Reserve Bank of India ) issued a warning to the general public against placing the deposits the Manappuram Finance - one of the largest ‘gold loan’ companies – a company which provides personal loans against the security of gold jewellery. ( Link Here, Dated Feb,12,2012 )

Every major malayalam medias hijacked the news, since they are getting a plenty of advertisement from such companies. but we are publishing for the interest of our tech community. so think twice before investing your money in any -unauthorized financial institutions.

News Link: http://timesofindia.indiatimes.com/business/india-business/Manappuram-raising-deposits-illegally-RBI/articleshow/11786793.cms

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Posted by john on Feb 9 2012. Filed under Information. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

anitha rajan

February 9, 2012 - 8:55 am

thanks for publishing the news. the most interesting thing is NO leading malayalam news papers carried this news. even the malayala manorama published their advertisement in the main page itself.

It is the time to stop subscribing malayalam news papers. and thanks for the timely update.

nandu menon

February 9, 2012 - 9:04 am

I know many people invested in these private financial companies by expecting a big interest. It is always safe to invest your money in natioanlized banks than these private banks. If they are cought with some malpractices, your money would be blocked and it will take ages to get it back.

anyway good post. thanks for the information.only Times Of India will do such brave news. our pity old manorma like ‘painkili’ newspapers are behind the money from their advertisements and they never publsh any this kind of news to the public.