RBI Holds 8th State-Level Coordination Committee Meet in Sikkim

28 Mar 2025 CW Team

The 8th State Level Coordination Committee (SLCC) Meeting was conducted by the Reserve Bank of India (RBI), Gangtok on March 26, 2025, at Tashiling Secretariat. The meeting was held under the chairmanship of Ravindra Telang, Chief Secretary, Government of Sikkim, and was convened by Thotngam Jamang, Regional Director of RBI.

The meeting was attended by various dignitaries, including General Manager RBI, Gangtok; SEBI, Kolkata; Secretaries from Law Department, Home Department, Information & Public Relations Department, Finance Department; Cooperation Department, RCS, IGP CID, IGP Law and Order, DIGP, Range; and DIGP, Special Branch.

During the meeting, the committee discussed the implementation of the BUDS Rules for the State of Sikkim under the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019. They also deliberated on various types of financial frauds being reported on Helpline 1930 and the total recovery done by the Sikkim Police.

The RBI Manager discussed the various types of digital frauds rampant and the initiatives taken by RBI to curb the growth of fraudulent activities. The stakeholders shared market intelligence amongst each other regarding unregulated entities engaging in fraudulent activities and discussed the role of the Sachet portal for reporting them.

RBI and SEBI also discussed various programs on Investor Awareness and Customer Grievance Redress Mechanism conducted by them to educate the public about common digital frauds and mechanisms to safeguard their financial rights. The Chief Secretary highlighted the efforts of RBI, Gangtok, in spreading financial literacy and its outreach program throughout Gangtok.

News source: PIB

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