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RBI's Sachet can help curb ponzi schemes

As all regulators are part of it, individuals don't need to worry about approaching the right authority

Tinesh Bhasin  |  Mumbai 

Recently, the Reserve Bank of India(RBI) launched an online website, Sachet, to curb Ponzi schemes at an early stage, by sourcing information from individuals. A person can go to the website, www.sachet.rbi.org.in, and share information with the regulator if he thinks a company is illegally collecting money.

People can also use the website to get detailed information on companies that are authorised to collect deposits and also complain if they are cheated by unauthorised operators. While the website is managed by RBI, all financial sector regulators and law enforcement agencies of different ...

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First Published: Sun, August 14 2016. 22:09 IST