Principal Secretary (Finance) S.S. Rawat has stressed on the need to create awareness among people regarding fake chit fund companies and cheating by online lending platforms.
He was addressing the 23rd State level coordination committee meeting organised by the Reserve Bank of India (RBI) at the Secretariat on Wednesday.
Apart from the fake chit fund companies, online cheating cases were on rise. The regulatory authorities had to respond and take necessary steps to rein in the cheating cases. Many new apps were coming up in the market. The apps were being used to commit economic offences and dupe the gullible people, he said.
The people were duped in the name of cryptocurrency and bitcoins, he said, adding, the State and Central government agencies had to work with coordination to control the cyber crime.
RBI General Manager Jayakumar, Principal Secretary (Home) Kumar Biswajit, Law Secretary Sunitha, Registrar of Cooperatives Babu A, CID DIG PV Sunil Kumar, SFIO Additional Director Prasad and others were present.
