Press Note issued by Reserve Bank of India (RBI), Gangtok

6th State Level Coordination Committee (SLCC) Meeting for the State of Sikkim
The 6th State Level Coordination Committee (SLCC) Meeting was conducted by Reserve Bank of India, Gangtok on May 23, 2022 at Lemon Tree Hotel, Gangtok.
The meeting was Chaired by Shri S. C. Gupta, IAS, Chief Secretary, Government of Sikkim and convened by Shri Kesavan Ramchandran, Regional Director (RD), RBI, Kolkata.
The other participants in the meeting were Shri Kishore Pariyar, GM & O-i-C,RBI, Gangtok, Secretary-cum-LR, Law Department, Comptroller-cum-Secretary, Finance Department; DIGP, Range, DIGP, Special Branch, SP, CID and Director, Information & Public Relations Department.The meeting was also attended by senior officials from Registrar of Companies (RoC), Kolkata and SEBI, Kolkata.
Shri Kishore Pariyar, GM & O-i-C, RBI, Gangtok welcomed all participants and informed that this forum was constituted for concerted / co-ordinated action by the regulatory authorities / agencies against delinquent NBFCs and unincorporated bodies and monitoring compliance with the orders of the Company Law Board passed against some of the NBFCs, cooperation among regulators, information sharing among members to identify regulatory gaps and overlaps at the very earliest and take immediate corrective action, co-ordinated action by regulators where jurisdiction is not limited to a single regulator, protection of customers against unfair, deceptive or fraudulent practices, review and facilitate faster action on issues of mutual interest, create investor awareness etc.
In his opening remarks, RD, RBI, Kolkata mentioned the objective of the joint forum and importance of holding such meetings in periodical intervals. He also mentioned about RBI’s “Sachet Portal” which is an initiative of the SLCC to curb the illegal acceptance of deposits by unscrupulous entities. Shri M. Thapa, SP, CID apprised the house regarding the statistics on cyber cases registered in the state. He also mentioned about the new National Helpline Number 1930, through which complaints on cybercrime can also be registered.
Government of India has passed an umbrella act called Implementation of Banning of Unregulated Deposit Schemes (BUDS) Act, 2019.The Chief Secretary gave direction to frame rules for the State of Sikkim in this regard to protect the gullible investors.
In order to keep track of the complaints against incidents of unauthorized acceptance of deposits by unscrupulous entities, Chief Secretary directed to form a Sub-Committee of SLCC to be chaired by IG,CID with members from Finance Department, Law Department, RBI, SEBI, RoC, IRDAI.
The Chief Secretary mentioned that awareness among the citizen to prevent unauthorised deposits by unscrupulous entities is the need of the hour and accordingly he advised that, RBI, State Government, SEBI, RoC should work together to spread awareness among the masses