RBI launches Sachet portal to check illegal money collection

Posted on:05 Aug 2016 09:20:13
RBI launches Sachet portal to check illegal money collection
05 August 2016 Current Affairs: The Reserve Bank of India (RBI) Governor, Raghuram Rajan, on 4 August 2016 launched Sachet portal,sachet.rbi.org.in, to check illegal money collection.

The portal will help anyone can obtain information regarding entities that are allowed to accept deposits, lodge complaints and share information regarding illegal acceptance of deposits by unscrupulous entities.

Highlights of Sachet : The website is available in vernacular languages for the benefit of the people of different regions of the country.It will be helpful for the regulators in quick follow up of the unlawful money collection activities.

It will also enable people get information regarding the financial entities that are allowed to accept the deposits.People will get the space to lodge complaints and share information regarding illegal collection of deposits by unscrupulous entities in their areas.The website also incorporates regulations prescribed by all financial regulators that different entities have to follow.

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