RAMKY INFRASTRUCTURE – UPDATE


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I really feel that some media propaganda is working against Ramky group in recent times  .Yesterday there was two circulars  from RBI regarding the cancellation of NBFC  Licenses . The first list consists of  17 companies  whose voluntarily surrendered their licenses due to their plan to discontinue the NBFC business . The second list consists of 31 companies where the reason is not specified by RBI in their press release  but mentioned they shall not transact the business of a Non-Banking  Financial Institution .

                                             Ramky  Finance ,One of the promoter group entity of Ramky Infra voluntarily surrendered their NBFC licence about six months back  and their name mentioned in the first list of 17 companies ( not in the list of 31 companies )

                                    Times of India and Moneycontrol reported this news under the head  ‘ RBI cancels registration of 31 NBFCs, majority from Bengal’  . Both these reports specifically mentioned the name of  Ramky  Finance under this  news item even Ramky Finance is not there in the list of 31 companies but  only in the list of  17 companies who voluntarily surrendered their license .  ( No mention about the name of other companies except one from both lists in the news)

                                                  Should we believe that the qualification of financial reporters are nosedived to a level they are not even capable to read and understand an RBI press release published in simple English or they are working with some vested interest ?  . Who will answer for the loss of market capitalization of various companies and loss to investors  due to the paid news / news without proper study ,published in various media which is rampant in these days ?

Link to  RBI Press Releases below

PR1

PR2

Disc : Holding shares of RIL , hence my views may be biased.

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