The J&K government has
decided that a Committee of officers drawn from Crime Branch, RBI, SEBI, and
RoC will meet on a fortnightly basis and exchange information on the activities
of non-banking finance companies in the state. This decision was taken at the
30th meeting of the State Level Coordination Committee (SLCC) on Non-Banking
Financial Companies (NBFCs) and Un-incorporated Bodies (UIBs) convened by the
Reserve Bank of India (RBI). The meeting was chaired by Chief
Secretary B V R Subrahmanyam and attended by Regional Director RBI Jammu,
Principal Secretary Home, ADGP CID, IGP (CIV), PHQ and senior officers from
RBI, SEBI and Government. The SLCC reviewed the progress
regarding notification of the rules in terms of the Jammu and Kashmir Chit
Funds Act, 2016, appointment of nodal officer under the Jammu and Kashmir
Protection of Interests of Depositors (in Financial Establishment) Act, 2018,
sharing of Market Intelligence (MI) on NBFI activities, SOP for dealing with
public complaint, issuance of notification under Section 45 T and 58 E of the
RBI Act, 1934 and other issues.
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J&K sets up mechanism to protect investors
By IndianMandarins - 2019-01-12 09:53:07
The J&K government has
decided that a Committee of officers drawn from Crime Branch, RBI, SEBI, and
RoC will meet on a fortnightly basis and exchange information on the activities
of non-banking finance companies in the state.
This decision was taken at the 30th meeting of the State Level Coordination Committee (SLCC) on Non-Banking Financial Companies (NBFCs) and Un-incorporated Bodies (UIBs) convened by the Reserve Bank of India (RBI).
The meeting was chaired by Chief Secretary B V R Subrahmanyam and attended by Regional Director RBI Jammu, Principal Secretary Home, ADGP CID, IGP (CIV), PHQ and senior officers from RBI, SEBI and Government.
The SLCC reviewed the progress regarding notification of the rules in terms of the Jammu and Kashmir Chit Funds Act, 2016, appointment of nodal officer under the Jammu and Kashmir Protection of Interests of Depositors (in Financial Establishment) Act, 2018, sharing of Market Intelligence (MI) on NBFI activities, SOP for dealing with public complaint, issuance of notification under Section 45 T and 58 E of the RBI Act, 1934 and other issues.
