It has come to the notice of the Reserve Bank of India (RBI) that a financial company attempted to mislead the public through a misrepresentation of the power of attorney registered with the RBI as the RBI’s registration for conducting business.

The RBI has clarified that its Public Debt Office (PDO) routinely registers documents, such as, resolutions and specimen signatures, certificates of change in name, power of attorney, etc., in its books to any holder of government securities. It provides a registration number to be quoted by the holder while transferring securities, or related correspondences with the Reserve Bank. Such registration does not amount to authorising the holder to conduct any business whatsoever.