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MC
4Th Aug 2016
The Reserve Bank of India (RBI) on
Thursday launched a portal to curb illegal collection of money by companies.
This website will enable public to
obtain information regarding entities who accept deposits, lodge complaints and
also share information regarding illegal acceptance of deposits, said RBI
Governor Raghuram Rajan while launching 'Sachet' here.
“Initiating quick follow up and
taking cases to logical conclusion by punishing the guilty is paramount to
deterring entities in future from carrying out unlawful activity. I hope
'Sachet' would help regulators in doing this as much as it would help members
of public in depositing their hard earned money with genuine companies by
giving them timely information about them,” Rajan said.
The website would also help enhance
coordination among regulators and state government agencies.
Explaining the features of the website,
Deputy Governor S.S. Mundra said, people can file and track a complaint on this
website if any firm has illegally accepted money from them or defaulted in
repayment of deposits. The Total
Investment & Insurance Solutions
People can also share information
regarding any such entity on this portal, Mundra said.
The website also incorporates
regulations prescribed by all financial regulators that one has to follow. The Total Investment & Insurance
Solutions
'Sachet' also has a section for
closed user group for State Level Coordination Committee (SLCCs) wherein they
could share market intelligence and other information about their activities as
well as agenda and minutes of meetings across the country in real time.
All states have SLCCs comprising of
various regulators, including RBI, Securities and Exchange Board of India
(Sebi), National Housing Bank (NHB), Insurance Regulatory and Development
Authority (IRDA), Registrar of Companies (ROC) and concerned state government
departments, such as, home, finance, law and various police authorities.
Mundra hoped that the website will
act as a 'force multiplier' and go a long way in making the SLCCs more
effective in curbing the menace of unauthorised money raising activities.The Total Investment & Insurance
Solutions
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