1. RBI bans Manappuram Finance, Manappuram Agro Farms from taking public deposits

    MUMBAI: The Reserve Bank of India has banned Manappuram Finance and an unlisted group company from taking public deposits as it is a violation of rules governing its licence to function as a lender. The lender, which provides funds with gold as collateral, has been directed not to even renew those deposits which mature, RBI said in a statement. "The Reserve Bank has stated that acceptance of deposits either by Manappuram Finance or by Manappuram Agro Farms is punishable with imprisonment and has
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