As part of its efforts to protect gullible investors from fraudulent investment schemes, the Reserve Bank has started scrutinising credentials of companies suspected of illegally raising money from public as NBFCs.

The central bank's action follows the Corporate Affairs Ministry sending a list of more than 34,700 firms that came under its scanner for allegedly pooling money as non-bank finance companies (NBFCs).

The Ministry had prepared the list early last year when Rs 10,000-crore Saradha chit fund scam -- that duped thousands of investors of their hard earned money -- came to light.

Sources said the Reserve Bank of India (RBI) has begun analysing details of entities, which are believed to have raised money from the public illegally without getting registered as NBFCs.

The cases are being pursued after reference from the Corporate Affairs Ministry to probe 34,754 companies (other than those registered with RBI). NBFCs are regulated by the RBI.

Sources said all the entities, which are under the scanner, would be provided an opportunity to clarify their position, before taking action.

The excercise has revealed that 4,102 companies were registered with RBI as NBFCs.

In the second stage, sources said, the RBI focused on the remaining 30,652 companies and it revealed that 13,647 companies are not meeting the business criteria requiring certificate of registration for functioning as NBFC.

Further, complete information on 6,182 companies is not available in the Ministry website and 4,125 companies are under liquidation.

Of the remaining 6,698 companies, only 213 are accepting public deposits and 1,643 are meeting business criteria for NBFC certification, sources said, adding, 4,842 companies are ineligible for registration as NBFCs.

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RBI starts scrutiny of companies suspected of illegal money raising

Remaining focussed Breathing is very crucial, says Prasad

Watching Prasad Bhatdundi perform yoga is like, as the clich goes, watching poetry in motion. His face is serene and his lithe body twists and turns effortlessly as he goes into one complex pose after the other with an almost deceptive ease the only indication of the effort it entails, the beads of sweat that dot his face and body.

His tryst with yoga started almost 15 years ago in a little village in North Kanara, I enrolled in a Vedanta and Chanting camp at the age of 12 in my hometown where along with learning the chants, we had to practice yoga. This is where my personal journey with yoga began.

However, it was only after a chance encounter with Ashtanga practitioner Vijay Kumar Manjar in Mysore, where Prasad was pursuing a Masters in Sanskrit, that Prasad truly embraced the practice. I got introduced to the Ashtanga form of yoga through my guru. Ashtanga is a traditional form of yoga that follows a standardised sequence of postures and has not been diluted in any way, over the years, he says, adding that he relocated to Bangalore two years ago.

According to him, the practice improves flexibility, strength, stamina and concentration, training the mind to remaining focused and pushing the bodys strength to higher levels, As you follow a standard sequence everyday, the practice is repetitive, leading to perfection. Breathing is very crucial as it leads you into your various asanas/postures, creating enough internal heat in the body to remove all toxins and open all the blocks in our nervous system, he adds.

Ashtanga is not easy the postures are complex and the sequence demands a lot out of you but it can be tweaked to address the needs of students across ages and fitness levels. I encourage a lot of self-practice in my class, where each student practicing at their own pace and based on their individual ability, needs and strength I help them to perfect each posture and move to the next level, says Prasad. I believe anyone, anywhere, any age can practice yoga. Ashtanga is for all.

Prasad walks the talk. And certainly breathes it. I lead a disciplined life as that is required to sustain the practice. I am up at 4 a.m. every morning, beginning my day with a series of chants and hymns. I also undertake my own self-practice in Ashtanga every day, either early in the morning or late in the evening depending on my classes and schedule. I take classes across the day in four locations in the city, he says. On future plans, The West made Ashtanga popular and I want to take this practice to more people in Bangalore. Ashtanga creates a healthy and spiritual balance in your mind, body and soul. I would love for more people to try out my class and experience this, he smiles.

Call Prasad on +919449208616

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A twist in his tale