Banking regulator, Reserve Bank of India has cautioned customers against unregistered non banking finance companies (NBFCs) which allure customers by offering high returns on deposits and claim to have RBI registration.

The central bank has also said that all complaints of this nature should be addressed to the Economic Offences Wing of the state governments concerned.

"It was reported that some individuals, firms, unincorporated association of individuals (unincorporated bodies) or marketing companies and companies engaged in money circulation schemes have been collecting money from the public by making tall promises of high returns, either through issue of advertisements or by sale of products," the RBI said.

"Money circulation schemes are banned under the Prize Chit and Money Circulation Schemes (Banning) Act 1978 and the respective state governments have the power to take action against the persons involved in such schemes," RBI said.

The apex bank has also generated a list of 300 registered NBFCs which are permitted to accept deposits.

"No NBFC outside of this list can accept deposits from public. Doing so is clearly fraudulent and has to be investigated by the law enforcement agencies in the normal course," the RBI said.