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