ITANAGAR, Oct 22: The chief secretary of Arunachal Pradesh today urged the Reserve Bank of India to develop hi-tech surveillance mechanism to detect financial crimes at initial stages.
He said this while was chairing the round nine meeting of State Level Co-ordination Committee (SLCC) on regulation of Non-Banking Financial Companies (NBFCs) and Un-incorporated Bodies (UIBs) here today. Regional Director for North Eastern States Reserve Bank of India, Manoranjan Dash, Dr. A.C. Verma Principal Secretary (Finance, Planning & Investment), Ravindra Yadav IGP Law & Order, G.S. Meena Commissioner Law, Y.W. Ringu Secretary Finance, C.N. Longphai Secretary Home, Siva Govinda Peton Deputy General Manager SEBI, Dr. Navdeep Singh Brar, SP Crime and others were present in the meeting.
Alarmed with cases and news of financial frauds via website, mobile messages, unauthorized collection of deposits etc, the Chief Secretary suggested that the RBI should develop a hi-tech surveillance mechanism with the capacity to detect any crime (financial) in its initial stage and let the law enforcing authorities to take actions accordingly.
Citing examples that even the most aware individuals can sometimes fall prey to these unscrupulous entities, the CS asked the RBI and other regulators to conduct awareness programmes in every nook and corner of the State in order to educate the innocent people of the various financial frauds to save them from being victims of financial frauds.
CS directed the SP Crime and Secretary Finance to share crimes (financial) committed in the State and Legislations, Orders, Notifications and latest developments of the State Government to the RBI.
Dr. A.C. Verma requested the RBI and other regulators to open stalls and participate directly or through banks participating in the Sarkar Apke Dwar camps to disseminate the information to make public aware about unauthorized collection/dupe of public deposits by various illegal entities and other related matters.
The house also discussed on The Banning of Unregulated Deposit Schemes, Act 2019 which provides comprehensive mechanism to ban the unregulated deposit schemes, other than deposits taken in the ordinary course of business, and to protect the interest of depositors and for matters connected therewith or incidental thereto. PRO to CS

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Kenter Joya Riba

(Managing Editor)
      She is a graduate in Science with post graduation in Sociology from University of Pune. She has been in the media industry for nearly a decade. Before turning to print business, she has been associated with radio and television.
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