Friday, May 29, 2020
News

FinMin puts out list of high-risk finance companies

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi [India] | February 26, 2018 12:01:13 AM IST
Financial Intelligence Unit (FIU) on Monday released a list of around 9,500 Non-Banking Financial Companies (NBFCs), which have been categorised as high-risk financial institutions by the Finance Ministry.

As per the Prevention of Money Laundering Act (PMLA), all NBFCs have to appoint a principal officer in the financial institutions and report all suspicious and cash transactions of over ten lakh rupees to the FIU.

But, these companies have been found not following these rules as on January 31,2018.

The FIU released the list on its website showing the names of NBFCs which have been found non-compliant to the PMLA rules.

ADANI CAPITAL PRIVATE LIMITED, Anand Corporate Holdings Pvt. Ltd., Arihant Udyog Ltd., Asian Financial Services Ltd., AVON MONEY SOLUTION INDIA LIMITED, Bindal Finvest., Bombay Gas Co Ltd., CELLO CAPITAL PRIVATE LIMITED, Dlf Finvest Limited, Eros Merchants (P) Ltd, and Indigo Fincap Pvt Ltd are few of the companies listed by FIU.

After demonetisation in 2016, NBFCs and several other rural and urban cooperative banks had come under the scanner of the Income Tax Department and the Enforcement Directorate (ED) for illegally converting banned currency notes. (ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
DLDS achieves another milestone: Tracks ...
Kranti Prakash Jha says he's got a diffe...
Wipro appoints Thierry Delaporte as CEO ...
India oil import bill falls 10% to $101 ...
Equity indices dip ahead of Q4 GDP data,...
Tobacco farmers ask govt to shun policie...
More...
 
INDIA WORLD ASIA
Man shot dead in Delhi, one held...
Low pressure over west central Arabian S...
Over 250 migrants head home on Shramik t...
COVID-19: Amritsar Hotel Association dem...
COVID-19: Chandigarh Passport Sewa Kendr...
Three arrested after plaster falls from ...
More...    
 
 Top Stories
Football Delhi to launch Capital Cu... 
10% Covid cases with diabetes die w... 
Extended crematorium hours: Govt on... 
S.Korea moves to limit classroom cr... 
Australians face fines for returnin... 
Sri Lankan brewery resumes exports ... 
Pak chicanery on Indian 'Islamophob... 
Mumbai Naval Dockyard develops UV d...