It has come to the notice of the Reserve Bank of India that some entities/imposters, including companies, partnership firms, individuals, etc., are fraudulently impersonating as Non Banking Financial Companies (NBFCs) registered with the Reserve Bank of India, by forging the Certificate of Registration cancelled by Reserve Bank of India. It is understood that entities/imposters are promising loans to the needy public at attractive rates and collecting money from them as processing charges for the loans/advances and vanish with the money so collected.

Such fraudulent activities/offers are punishable under the law. Members of public are advised to exercise due caution and not to fall prey to such fraudulent activities/offers and to inform the local police authorities if any such activities come to their notice.

Do not make any payment or financial commitment to any individuals/entities without verifying the veracity of the transaction, the credentials and genuiness of licence or Certificate of Registration issued by the appropriate regulatory authority to function as a financial institution.

Be informed! Be Safe!

Alpana Killawala

Principal Chief General Manager

Fraudulent impersonation of NBFC registration warns public to verify credentials and avoid advance payments, report suspicions to police promptly. Fraudulent impersonation has been observed where entities present forged, cancelled Certificate of Registration purporting to be NBFCs and solicit loans by collecting advance processing charges before disappearing; such conduct is punishable. The public is warned to verify any licence or Certificate of Registration, refuse advance processing charges for promised loans, and report suspected incidents to local police authorities to avoid falling victim to such frauds.