Nine unauthorised FIs in Mizoram

Aizawl, Apr 2 (UNI) Mizoram Chief Minister Zoramthanga informed the state assembly that the state government launched investigation against at least nine financial institutions (FIs), which are not recognised by the Reserve Bank of India (RBI).

In a written reply to a query from Sailothanga Sailo of Mizoram People's Conference (MPC), Zoramthanga said the State Government did not give permission to them to do business in the state.

Earlier, State chief secretary Haukhum Hauzel had issued notice against at least seven financial institutions not recognised by the RBI and citizens should be very careful prior to investing money in such institutions as Mizoram had serious problems with these.

UNI