For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Central bank, Govt must prevent investors from financial frauds: D Subbarao

By Religare
|
Central bank, Govt must prevent from financial frauds
Speaking against the backdrop of chit fund schemes going bust in West Bengal and elsewhere, RBI Governor D Subbarao said, it is the responsibility of the central bank as well as the government to protect investors from financial frauds, reported PTI.
 

"It is the responsibility of the government and the regulators to protect people from such fraudulent schemes," said Subbarao, who demits office in a week's time.

As per the media reports, Subbarao suggested a two-pronged approach: spreading awareness about dubiousness of such schemes among the investors, and deepening financial inclusion so that the common people's savings are routed to the formal financial system.

Recently, the high-profile Saradha Group in West Bengal went bust, putting the hard-earned money of thousands of investors in jeopardy.

Dion Global Solutions Ltd.

Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more