Illegal acceptance of deposits by various bodies and institutions has been a menace in the society. In order to curb this, RBI has on 4th Aug 2016 launched a new WEBSITE, through which public can get the detailed information related to the bodies and institutions, who can accept deposits. This has paved way for lodging complaints, regarding illegal acceptance of deposits.
The website is named as SACHET, which would be a coordinating agency between the Regulators and Law enforcement agents, across the various states, which thus makes way for reducing the activities of unlawful entities from raising money from public and others. Regulatory bodies have come to know about the activities of the Collective Investment Schemes (CISs) and more so SEBI has come across millions deceived by various bodies like Sahara, Sarada, Pearl Agro and others.
RBI Governor Mr. Raghuram Rajan, warned the public from getting duped by various agencies, and also advised not to fall prey to the phishing emails received from unknown sources. The phishing activity instigates public to provide their identity, in the guise of providing huge money, through emails, and thus resort to cheating them.
The site SACHET is expected to reduce such crimes. Though the CISs have been brought down considerably, SACHET is expected to eradicate such crimes in future.