BuzzBytes JAMMU, FEBRUARY 23: Chief Secretary Atal Dulloo led the 34th meeting of the Union Territory Level Coordination Committee (UTLCC), convened by the Reserve Bank of India (RBI), to address concerns related to unauthorized deposits, fraudulent activities of unregulated entities, and the sharing of Market Intelligence among stakeholders.Chief Secretary Dulloo emphasized the need for widespread awareness among the public about potential financial frauds. He urged bank authorities to regularly communicate dos and don’ts to the public and proposed outreach programs targeting students and Self Help Group (SHG) members to ensure every household is well-informed on safeguarding against fraudsters.The meeting included a comprehensive review of action points, encompassing police sensitization programs, public awareness initiatives, and the progress in pending fraud cases related to unauthorized deposits and digital lending. Dulloo called for more effective action in these areas to protect public money and advocated for the broader application of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019.GM, RBI, Neeraj Kumar, shed light on various strategies to tackle the surge in fraudulent activities in the online sphere. He emphasized the need for a collaborative approach among all stakeholders to mitigate such frauds.The meeting also delved into recent developments in frauds related to unauthorized deposits and lending apps reported in Jammu and Kashmir. Key officials from the J&K government and the police department, including Special DG Crime A.K Choudhary, Principal Secretary Home and Finance Departments Santosh D Vaidya, ADGP CID Nitish Kumar, and others, attended the meeting.RBI and SEBI officials also participated, either in person or through video conferencing, to contribute to the collaborative efforts in addressing financial fraud concerns.
Chief Secretary Chairs 34th UTLCC Meeting on Financial Frauds in Jammu
