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CS chairs meeting of SLCC on NBFCs, UIBs

Excelsior Correspondent

JAMMU, Feb 9: Chief Secre-tary B.R. Sharma, today chaired 27th meeting of State Level Coordination Committee (SLCC) on Non-Banking Financial Companies (NBFCs) and Un-incorporated Bodies (UIBs).
The meeting convened by Reserve Bank of India was attended by Regional Director, Reserve Bank of India, Jammu and Kashmir N. K. Sahu, Principal Secretary Home Raj Kumar Goyal, IGP Crime Muneer Ahmed Khan, IGP Jammu Zone Danish Rana, ROC O. P. Sharma,  GM, SEBI SK Sharma and other senior officials from RBI, NHB, Registrar of Cooperatives (RCS), State Government and ICAI.
Speaking on the occasion, the Chief Secretary emphasized on the need to protect the interest of the public from the unscrupulous entities and to take stringent action, wherever, required.
The Regional Director called for greater co-ordination between the regulators and law enforcement agencies to prevent unscrupulous companies from luring investors and duping them of their hard earned money.  While Principal Secretary, Home emphasized on conducting Investor Awareness Programmes and giving wide publicity to make the general public aware of such errant companies.
Apart from reviewing the status of action taken against certain delinquent entities, the formation of a Sub-Committee of SLCC to share market intelligence, take action against unscrupulous companies, act on complaints and their closure were also deliberated.
During the meeting it was also decided to have nodal officers from regulators, law enforcement agencies and government officials for effective coordination.

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