The Government is serious to curb illegal trade of chit fund companies in the State. Chief Secretary Dr. DK Tiwari instructed officials to crack whip on fraud chit fund companies. For this, the Police and the Reserve Bank have been asked to form a SOP (Standard Operating Procedure) jointly for quick exchange of information between all the related agencies.
The CS also instructed that in each district; a DSP level officer should be made a nodal officer for the investigation of such fraud. He told the officials of the Reserve Bank to provide financial expertise to the police for the cooperation in research of financial fraud. The Chief Secretary was speaking at the state level coordination committee meeting for prevention of financial fraud in Project Building here on Wednesday.
The CS emphasised on the need to focus on public awareness to avoid such frauds. The representative of JHALSA gave the assurance of joining the campaign with priority.
The Chief Secretary also emphasised on the need to link various media to the awareness campaign and said for that coordinate with Information and Public Relations Department.
The Reserve Bank representative said that within a year, they have done 75 public awareness programmes. At the same time SEBI representative told that they had organised 600 awareness programmes. Apart from distributing 72,000 posters in school-colleges, the campaign was also run at Panchayat Level.
The common masses can give information related to such fraud on the website of RBI named- Sachet.
Explaining the role of banks in saving people from financial fraud, the Chief Secretary instructed that the bank should provide the information of the questionable deposits.
He also asked to strengthen the information system from Police to SP level to stop financial fraud.