Odisha has forever remained a favorite destination of fly-by-night finance companies. In the past, there have been numerous incidents of vanishing by such firms after swindling the money of the innocent investors. Recently Reserve Bank of India (RBI) has come to know that finance companies are assuring investors of very high interest or return in Cumulative convertible preference shares, although those have not received authorization from RBI.
It has cautioned all investors that they have to invest at their own risks and it will not take responsibility for the consequences. The apex institution in banking has said this in a recent notification at