The Reserve Bank of India has been in the forefront in taking several initiatives to create awareness among the general public on various issues.
The initiatives include the issue of cautionary notices in the print media, distribution of informative and educative brochures/pamphlets, close interaction with the public during awareness/outreach programmes, participation in State-sponsored trade fairs and exhibitions etc.
The RBI has recently placed an advisory and a set of frequently-asked questions on “All you wanted to know about NBFCs”, on its website, www.rbi.org.in. These FAQs provide clarifications on various issues, such as:
>What is a Non-Banking Financial Company (NBFC)IJ
>Entities not regulated by RBI
>What are depositsIJ
>What action can a depositor take if any NBFC fails to return principal, interest thereof on deposits, etcIJ