Lucknow: The 21st meeting of the state level coordination committee, convened by the Reserve Bank of India (RBI), was chaired by chief secretary SP Goyal on Tuesday. Among matters discussed were complaints received against multi-state cooperative societies operating in UP, action being taken by the Economic Offences Wing (EOW) and the registrar of cooperative societies, defaulting institutions, sharing of market intelligence on illegal financial activities of unincorporated entities, and raising awareness for the prevention of financial fraud.The CS emphasised on the need to encourage the general public to carefully examine documents of the company concerned before putting money in an investment scheme and to verify the information available on its official portal. He also directed that complaints received on the Sachet portal be acted upon in a time-bound manner.Directing officials to take prompt and effective action against unincorporated entities providing loans at excessive interest rates, charging additional processing fees, using unethical methods for loan recovery, and issuing forged and fake savings bonds, the CS said that early investigation and effective prosecution should be ensured in cases related to economic offences.He also stressed on better coordination between banks, enforcement agencies and departments concerned to effectively curb financial and cybercrimes.
