RBI holds 8th State Level Coordination Committee meeting in Sikkim on unregulated deposit schemes
The Reserve Bank of India, Gangtok, held the 8th State Level Coordination Committee meeting at Tashiling Secretariat on 26 March 2025, discussing the BUDS Act, 2019 and financial frauds.
Summary
The Reserve Bank of India's Gangtok office held the 8th State Level Coordination Committee (SLCC) meeting at Tashiling Secretariat, Gangtok, on 26 March 2025, chaired by Sikkim Chief Secretary Ravindra Telang. The committee discussed implementing the BUDS Rules under the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019, frauds reported on helpline 1930, and the RBI's Sachet portal for reporting unregulated entities.
Key facts
- Date
- 26 March 2025
- Place
- Tashiling Secretariat, Gangtok
- Meeting
- 8th SLCC, convened by RBI Gangtok
- Chair
- Chief Secretary Ravindra Telang
- Law discussed
- BUDS Act, 2019
- Tools
- Helpline 1930; Sachet portal
Practice MCQs 1 questions
Which law's implementation was discussed at the RBI's 8th State Level Coordination Committee meeting in Sikkim on 26 March 2025?
Show answer
Correct answer: D — Banning of Unregulated Deposit Schemes Act, 2019
The committee discussed implementation of the BUDS Rules under the Banning of Unregulated Deposit Schemes Act, 2019.