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
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 ...
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard
First Published: Sun, August 14 2016. 22:09 IST