The Reserve Bank of India on Thursday launched a website that will help the public acquire information about entities allowed to collect deposits. Apart from providing information about whether a particular entity is registered with any regulator or is permitted to accept deposits, the portal – sachet.rbi.org.in – will also help people file and track their complaints against fraudulent firms.
RBI Governor Raghuram Rajan said, "We have to do this (tackle it) before the fly-by-night operator runs away with the money. We have to stop the crime in progress." He told PTI that the portal will help the public deposit money with genuine entities. The website will also have details of regulations prescribed by all financial regulators.
The apex bank's Deputy Governor SS Mundra said the website has a section where market intelligence inputs and other information can be shared, and where people can share information about fraudulent firms.