RBI launches Portal ‘Sachet’ to curb illegal money pooling by firms

TIL Desk/Business/New Delhi-To curb illegal and unauthorised pooling of funds by unscrupulous firms, Reserve Bank today launched a website, which will help people obtain information about entities allowed to collect deposits.

Launching the portal — sachet.rbi.org.in — RBI Governor Raghuram Rajan said that initiating quick follow up and taking cases to logical conclusion by punishing the guilty is paramount to deter entities in future from carrying out unlawful activity. The portal will facilitate filing, tracking of complaints, besides providing information about whether any particular entity is registered with any regulator or is permitted to accept deposits.

“I hope ‘Sachet’ (Hindi for alert) would help regulators in doing this as much as it would help members of public in depositing their hard earned money with genuine entities by giving them timely information about these entities,” Rajan was quoted as saying in a release.