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RBI launches portal to curb illegal money

The Reserve Bank of India (RBI) Governor, Raghuram Rajan, on 4 August 2016 launched Sachet portal, sachet.rbi.org.in, to check illegal money collection.
•    The website is available in vernacular languages for the benefit of the people of different regions of the country.
•    It will be helpful for the regulators in quick follow up of the unlawful money collection activities.
•    It will also enable people get information regarding the financial entities that are allowed to accept the deposits.
•    People will get the space to lodge complaints and share information regarding illegal collection of deposits by unscrupulous entities in their areas.
•    The website also incorporates regulations prescribed by all financial regulators that different entities have to follow.
•    The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934
 

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