8th SLCC Meeting in Sikkim on Financial Fraud and BUDS Act
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
| Topic | Point |
|---|---|
| BUDS Act, 2019 | Enforcement progress in Sikkim |
| Fraud | Helpline 1930 complaints, police recoveries, digital fraud trends |
| Sachet Portal | Public urged to report fraudulent schemes |
| Awareness | RBI, 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.