Advisor Ladakh chairs 2nd meeting of UTLCC convened by RBI

Excelsior Correspondent

LEH, Aug 23 : Advisor to the Lieutenant Governor of UT of Ladakh, Dr. Pawan Kotwal, presided over the 2nd meeting of the Union Territory Level Coordination Committee (UTLCC).
The meeting was convened by Kamal P Patnaik, Regional Director of RBI for Jammu & Kashmir and Ladakh.
During the meeting, Patnaik welcome Advisor Kotwal and highlighted potential fraud risks posed by unauthorized digital entities. He emphasized the importance of a robust grievance redressal mechanism to protect the public from such fraudulent activities.
Advisor Kotwal praised the RBI’s efforts in fostering financial awareness and stressed the need for collaboration between the UT Administration and financial sector regulators to raise public awareness and counteract these frauds effectively.
The main agendas, which were discussed during the meeting were the implementation of the Banning of Unregulated Deposits Schemes (BUDS Act) to combat financial frauds, enhancing awareness among stakeholders, and the formation of a sub-committee within UTLCC.
Among others who were participated in the meeting include Dr. S.D Singh Jamwal ADGP, Ladakh, Amit Pradhan, Regional Director, SEBI, NRO, K. Mehboob Ali Khan, Commissioner Secretary/ Competent Authority, BUDS Act, Neeraj Kumar, General Manager, RBI, Moses Kunzang, Additional Registrar Cooperatives, Dr. Safdar Ali, Additional Secretary, Finance Department and representatives from UT administration, RBI, and SEBI.
Additionally, Hamid Bukhari, Registrar of Companies, J&K and Ladakh and an official from ICAI participated through Video Conferencing.