Sachet: Important Topics for UPSC Exams

What?

It is a financial awareness program for the identification of cases relating to the illegal collection of deposits therefore to take timely action; The Reserve Bank of India (RBI), in collaboration with the other financial regulators, has launched a website called ‘Sachet’.

Significance:

The public will know about regulated financial entities, regulators, and pertinent regulations by visiting the website.
On the website there is a section for the participants of State Level Coordination Committees, that is the regulators, various state government departments, the police and other enforcement agencies. Here, sharing of market intelligence can take place, thereby ensuring that illegal activities do not pass through the gaps while passing from one jurisdiction to another.
Sachet, true to its Hindi meaning, is all about prevention step to be adhered to before making investments into Ponzi schemes or for that matter any financial schemes.
To weed out “fly by night operators” who promise astronomical returns at low or zero risks.
To address the proliferation of Ponzi schemes problems.
Early identification of these cases may lead the enforcement agencies to take quick action before the money is lost or misused.
Presently the website is in Hindi and English and efforts are being taken to provide its vernacular versions too.