Chief Secretary directs to create awareness towards chit fund companies

Ranchi: Chief Secretary DK Tiwari said that the state government was serious to curb the illegal activities of the chit fund companies in the state and has asked to create awareness among the people so that these companies are not able to dupe the people of their hard-earned money.

He said that among all the concerned agencies for exchange of information a standard operating procedure should be developed between police and reserve bank as after the SOP is formed timely action can be taken against cases of fraud. He directed that a DSP level officer should be appointed at the district level to look into such cases. Mr Tiwari also asked the officials of the RBI to provide help of experts to the police to crack cases of financial frauds.

He laid stress on the fact to create awareness among the people to stop the growth of the chit fund companies and said that for this pupouse the help of workers of Jharkhand Legal Services Authority be taken over which the
representative of JHALSA assured of active corporation. He also directed to establish coordination with IPRD to create awareness in this regard through all possible means of communication.

On the other hand representative of the RBI said that in one year 75 programs of voter awareness has been done on the other hand SEBI said that the organisation has done 600 programmes of awareness and has taken the initiative to the panchayat level.

The Chief Secretary also asked to keep an eye on the misleading advertisement and asked to hold a vigil on such ponzi scheme adds and directed that arrangement in this regard should be made in the SOP. He said that through advertisement even the people should be informed whether they should share inputs in this regard on this official of RBI said that they have a website named Sachet where people can share the information.

Highlighting the role of the banks in preventing the people from frauds he said that in case of any suspicious deposit information should be provided and action should be taken. He said that information network should also be strengthened to collect information for such frauds and any information should be immediately shared with officials of the reserve bank.

Over complaints of deliberate complaints to implicate others Mr Tiwari said that in any case primary investigation should be done so that any innocent person is not implicated.