Skip to content

8th SLCC Meeting in Sikkim on Financial Fraud and BUDS Act

28 March 20251 min read
BANKING & FINANCE8th SLCC Meetingin Sikkim onFinancial Fraudand BUDS Act28 March 2025safalsetu.com

Why in the news

Sikkim’s State Level Coordination Committee met to coordinate action on financial fraud and unregulated deposits.

Meeting details

  • Chair: Ravindra Telang, Chief Secretary; convenor: Thotngam Jamang, RBI Regional Director.
  • Participants: RBI, SEBI Kolkata, state departments and Sikkim Police.

Discussions

TopicPoint
BUDS Act, 2019Enforcement progress in Sikkim
FraudHelpline 1930 complaints, police recoveries, digital fraud trends
Sachet PortalPublic urged to report fraudulent schemes
AwarenessRBI, SEBI investor awareness and grievance redress

The Chief Secretary praised RBI Gangtok’s financial literacy outreach.

Exam angle

  • BUDS = Banning of Unregulated Deposit Schemes; Helpline 1930.

Test yourself

1. Which Act's enforcement in Sikkim was reviewed at the 8th State Level Coordination Committee meeting?

The meeting reviewed the Banning of Unregulated Deposit Schemes Act, 2019.

2. Who chaired the 8th SLCC meeting held at Tashiling Secretariat, Gangtok?

Chief Secretary Ravindra Telang chaired it; Thotngam Jamang was convenor.

3. Which portal was promoted at the SLCC meeting for public reporting of fraudulent financial schemes?

The public was encouraged to report through the Sachet Portal.