Manappuram's board to meet on Feb 10 to discuss RBI's letter

February 07, 2012 13:40

Manappuram Finance today said its board of directors will meet on February 10 to discuss the caution letter issued by the RBI to it for allegedly accepting
public deposits in violation of rules.

The meeting will discuss measures for further improving corporate governance of the company.

Manappuram Finance's filing comes a day after the Reserve Bank cautioned it against accepting public deposits as the firm has converted itself into a non-deposit taking NBFC.

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