Tuesday, March 28, 2023

CS orders crack down on fraudulent non-banking companies


Ranchi, May 12: Chief secretary Rajbala Verma on Thursday directed concerned officials to identify people who swindle money from the common people through non-banking companies.

She said that data of all non-banking companies should be collected by the DC and shared with RBI and SEBI so that people could be saved from swindling.

Verma was speaking at a review meeting to assess the matter of forgery by non-banking companies with RBI, SEBI, CID, Registrar of Companies and Rashtriya Awaas Board.

She said that many banks are trying to benefit common people through welfare schemes whereas some non-banking companies are trying to counterfeit people.

She directed the local police to coordinate with RBI, SEBI, Registrar of Companies and Rashtriya Awaas Board and crack down on such fake companies and chit funds.

RBI gave details about 20 companies, Registrar of Companies 78 and Rashtriya Awaas Board mentioned 10 such registered companies working in the state.

She directed to provide details of all such companies working in the state to the regulatory bodies and ensure review of all constitutional responsibilities borne by these companies and take action. The DC should share information of all non-banking companies with the regulatory bodies.

She laid stress on taking action on unregistered non-banking companies in the district. As per the information found from the districts, 264 non-banking companies are functioning in the state and 178 FIRs have been lodged so far in such cases.

The CS also reviewed the PID Act (in financial institutions) 2015 to see the current position and way of functioning of non-banking companies. She directed the administrative department to act soon for designated court. Moreover, she directed to sort out the list of 154 complaints after taking required action.

She asked about the up-to-date condition of non-banking companies registered with SEBI, Indian Aawas Board etc. and wanted to know their modus operand. She directed to review these non-banking companies every month and take strict action on those companies which donít abide by the rules of the govt. She directed the cooperative department to ensure action on cooperative societies.

It was also decided in the meeting to make people aware about the loopholes of non-banking companies. She said that village markets/schools/ colleges should be given priority while making people aware because people amass at these places. IPRD LED Vans are spreading awareness among people in remote places.

Additional chief secretary Amit Khare, secretary, Planning and Finance Satyendra Singh, secretary, Cooperative Department, regional director, RBI, M. K. Verma and officers of Income Tax Department, RBI, SEBI, CID, Registrar of Companies and Rashtriya Awaas Board were present in the meeting.

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