Chief Secretary chairs 33rd UTLCC meeting

JAMMU, March 10: Reserve Bank of India today convened the 33rd meeting of the Union Territory Level Coordination Committee (UTLCC) at Civil Secretariat, here. The meeting was chaired by Chief Secretary, Dr. Arun Kumar Mehta to discuss issues related to unauthorised deposits, fraudulent activities of unregulated entities and the sharing of Market Intelligence among stakeholders.

Chief Secretary reviewed the progress made in pending fraud cases and called for concrete preventive and mitigative action to safeguard public money. He suggested all stakeholders to come up with a comprehensive and convergent plan of action to spread awareness among public about such fraudulent activities and also called for stronger efforts to make the implementation of BUDS Act more effective. Action against fraudulent apps/websites, activities of Nidhi companies in J&K, sensitization programmes for J&K police officials by RBI among other issues were also discussed during the meting.

From the Reserve Bank of India, K.P.Patnaik, Regional Director discussed various steps that can be taken to tackle the rise of such fraudulent activities in cyberspace and called for collaborative approach among all stakeholders.

The meeting was attended by R.K.Goyal, ACS, Home; R.R.Swain, Special DGP(CID; A.K Choudhary, Special DGP Crime; Achal Sethi, Law Secretary; Akshay Labroo, Director Information and other senior officials of UT government.

Top officials of regulatory bodies in J&K including Neeraj Kumar, GM RBI, Akbar Wani, RCS, Haamid Bukhari, RoC, officers of Market Intelligence Unit, RBI and representatives from SEBI and ICAI also attended the meeting.