Crime Branch cautions public on Multipurpose Co-op society accepting deposits

JAMMU: Crime Branch Jammu cautioned the general public to desist from doing any kind of business with the Rural Development Multipurpose Co-operative Limited (RDMCL) as the Society is doing banking without RBI permission.

“This is for the information of the general public that the Crime Branch Jammu is in receipt of complainants from a number of complainants and also from the Registrar Co-operative Societies J&K regarding undertaking the business of Banking/credit and the misappropriation of deposits of the public by the said Co-Operative,” a statement by Crime Branch said.

It said the RDMCL is doing the business activities without obtaining the license from RBI, a prerequisite for such transactions.

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