Citizens have been urged to be careful and aware of non-financial institutions offering unusual returns or cheap loans. An appeal has been made to the common citizens to be aware of the registration of such institutions and to check their authenticity first. An awareness campaign will also be conducted for the depositors of such institutions.

This information was given in the meeting of the State Level Coordination Committee regarding non-financial institutions under the chairmanship of Chief Secretary Iqbal Singh Bains here on Wednesday. It was informed in the meeting that an awareness campaign would be started to protect the depositors of non-financial institutions and companies from possible financial frauds.

District collectors and senior police officers have been instructed to ensure strict compliance of the provisions of the Madhya Pradesh Protection of Interests of Depositors Act and Banning of Unregulated Deposit Act in such institutions from time to time. In order to maintain mutual trust between the depositors and the general public and the government, instructions have been given to continue the action by taking strict action against the guilty institutions. Apart from this, it was also discussed in the meeting to organise a training session or seminar on the Banning of Unregulated Deposit Act 2019 at the division level so that more and more people can become aware.

In the meeting, Additional Chief Secretary Home, Principal Secretary Finance, Principal Secretary Law, Commissioner for Institutional Finance, Regional Director Reserve Bank of India, Special Director General of Police, CID, DG EOW, other senior officers of State Government and police, representatives of various regulators were present.