Arunachal Pradesh government suggested that the Reserve Bank of India (RBI) should develop a hi-tech surveillance mechanism with the capacity to detect any financial crime.
State chief secretary Naresh Kumar on Tuesday said a mechanism should be developed in such a way so that the crime can be detected in its initial stage.
Kumar gave out suggestion while addressing the state level co-ordination committee (SLCC) meeting on regulation of non-banking financial companies (NBFCs) and in-incorporated bodies (UIBs) in Itanagar.
This was the 9th round of the SLCC meeting.
Alarmed with cases and news of financial frauds via websites, text messages, unauthorized collection of deposits etc, Kumar said that even the most aware individuals can sometimes fall prey to these unscrupulous entities.
He further asked the RBI and other regulators to conduct awareness programmes in every nook and corner of the State so as to educate the innocent people on various financial frauds and also to save them from being victims of such scams.
The meeting also discussed on the Banning of Unregulated Deposit Schemes, Act 2019 which provides comprehensive mechanism to ban the unregulated deposit schemes, other than deposits taken in the ordinary course of business, and to protect the interest of depositors and for matters connected therewith or incidental thereto.
RBI regional director for north eastern states, Manoranjan Das, IGP (law and order) Ravindra Yadav, commissioner (law) G S Meena, secretary (finance) Y W Ringu, secretary (home) C N Longphai, SEBI deputy general manager Siva Govinda Peton and SP (crime) Dr Navdeep Singh Brar were among others were present in the meeting.