RBI launches Sachet Portal to rein illegal pooling of money or funds by firms or companies. Sachet Portal launched by Reserve Bank of India (RBI) to check for illegal pooling of money by firms or companies. Sachet Portal was launched by RBI governor Raghuram Rajan in Mumbai, Maharashtra.
How Sachet Portal will help people ?
The website will empower the general public to get information about the valid or authorized entities to accept deposits.
People can lodge complaints and also share information regarding illegal acceptance of deposit.
Anyone can file or track a complaint on the portal if any company or firm has illegally accepted money from them or defaulted in repayment of deposits.
What are the key features of Sachet Portal ?
“Sachet Portal”will facilitate people to get information about entities or companies allowed to accept deposit.
People can get information about any entity, whether it is registered with regulator or not.
The portal will also help to enhance the coordination among regulator and state government agencies.
‘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.