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From THE HINDU group of publications Sunday, December 24, 2000 |
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RBI Report on RPS
The Madras High Court has directed the Reserve Bank of India to produce all the files and report to it on the grant of exemption to RPS Benefit Fund from interest rate regulations.
The company owes Rs 40 crore to its depositors and has a depositor base of 40,000. The RBI exemption had allowed the company to fix interest rates on its own. Following these details, the RBI has been asked to file a report on the grant of exemption. -- BL Research Bureau
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