Madhya Pradesh: Chief Secy Iqbal Singh Bains asks officials to take action against financial fraud

Chief secretary Iqbal Singh Bains asked the officials to take prompt action on the complaints related to financial fraud. The CS took the 39th state level coordination committee on Monday.

In the meeting it was discussed that the non-banking companies, chit fund companies are luring innocent people by doubling the amount in short time span.

These companies keep on collecting the amount and when the investors sense that they being cheated these companies fled from the area along with the amount.

In the meeting it was informed that the Reserve Bank of India had received 1318 complaints against 164 chit fund companies. To investigate the case the SEBI, CID, district collector and other investigation agencies are appointed.

The CS asked that officials to bring awareness among the people about the fraud, in which doubling of the money in short time and other fake schemes.

In the meeting the ACS home Rajesh Rajora, principal secretary finance Manoj Govil, PS law Satyendra Kumar Singh, commissioner public relations Dr Sudam Khade, ADG CID, IG Cyber and officials of RBI were present.

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