Breaking News

RBI opens ‘Sachet’ to curb illegal money deposits; website Odia version sought

Bhubaneswar, Aug 4: Reserve Bank of India (RBI) Governor Dr Raghuram G Rajan on Thursday launched a web portal in order to check unlawful money collection activities by unscrupulous money collection companies.

The website will help people obtain information about entities allowed to collect deposits.

Rajan launched the website at the RBI headquarters in Mumbai and on behalf of Odisha, Chief Secretary Aditya Prasad Padhi, Development Commissioner and Additional Finance Secretary (Finance) R Balakrishnan and Special (DG) Crime Branch Bijay Kumar Sharma participated through a video conference from the State Secretariat here.

“Sachet would be helpful for the regulators in quick follow up of the unlawful money collection activities. It would also enable the people to get information regarding the financial entities that are allowed to accept the deposits. People would also get the space to lodge complaints and share information regarding illegal collection of deposits by unscrupulous entities in their areas,” said Rajan.

RBI sources said the website would also help real time coordination among the regulating authorities, State Governments, State Level Coordination Committees (SLCCs) and enforcement authorities. The SLCCs can share market intelligence and other information relating to their activities, agenda and minutes of their meetings across the country through this website.  

After attending the programme Development Commissioner Balakrishnan told reporters said that the State Government has suggested RBI to make the website available in vernacular languages so that people of various regions could take maximum benefit out of it. 

All districts have been provided Rs1 lakh each for intensifying awareness activities at village and Panchayat levels on illegal money collections. 

No comments