Public warned against depositing in City Money Limited

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Bangalore, Oct 28: Public were on Tuesday, Oct 28 warned by City Police Commissioner Shankar Bidri against depositing their money in a company operating with website

Talking to newsmen here, he said that after coming to know about operation of the website by offering an interest of Rs 7,700 every month for Rs One lakh deposit, a through search revealed that no per centage of interest was mentioned under various schemes the company City Money Limited inviting deposits.

Moreover on inquiry with Reserve Bank of India it was learnt that it is not a registered non-Banking Finance Company, he added.

"I dont want public to fall prey to such companies which were not trust worthy and the website may turnout, in due course to be another Vini Vink or Darshanika or Questnet operation resulting in cheating of hundreds of crores of rupees to the members of the public." Hence public were warned against depositing in the above website company, he added.

Mr Bidri has requested the Director General of Police Ajay Kumar Singh to order COD to make detailed check of the operations conduced by the above company and to ensure that the operations are in accordance with the guidelines of the RBI and sound financial cannons to prevent any financial disaster at a later date.


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