Srinagar: Reserve Bank of India on Thursday convened the 32nd meeting of the Union Territory Level Coordination Committee (UTLCC). UTLCC is a platform for inter-regulatory and inter-institutional coordination on issues related to unauthorised deposits, frauds, and the sharing of Market Intelligence.
The meeting was chaired by Dr. Arun Kumar Mehta, Chief Secretary, J&K and was attended by R K Goyal, Financial Commissioner, Department of Home, Vivek Bhardwaj, Financial Commissioner, Finance Department, Achal Sethi, Law Secretary, A K Choudhary, Special DG Crime, R R Swain, Special DG CID, Haamid Bukhari, ROC Kashmir and Akshay Labroo, Director Information and Public Relations.
As per an official handout, the Chief Secretary emphasized on the need to protect the interest of the public by setting up a robust ecosystem in J&K. Apart from reviewing the status of action taken against certain delinquent entities, the meeting covered issues of the early framing of rules under BUDS Act 2019 in J&K, conduct of more frequent Sub-Committee meetings, timely closure of cases, sharing of market Intelligence among key stakeholders among others. The Chief Secretary also set a timeline for roll out of BUDS Act 2019.
From the Reserve Bank of India, K P Patnaik, Regional Director addressed the participants through VC. He highlighted the menace of unauthorized digital lending apps and the need for greater awareness programmes for the public.
