You may call it a parting gift from Dr. Raghuram G Rajan, RBI just launched a very informative website- Sachet. The home page is http://www.sachet.rbi.org.in/home/index. This is a Hindi word- Sachet means “ to caution” “ to inform”- A proactive kind of word.
If you ask me, this is what we as an investor and advisors were waiting for. All information, awareness initiatives, new launches, grievances and feedback to the regulators – AT ONE PLACE.
Sachet is a joint effort of SLCC- State Level Coordination Committee is the joint forum formed in all States to facilitate information sharing among the Regulators viz. RBI, SEBI, IRDA, NHB, PFRDA, Registrar of Companies (RoCs) etc. and Enforcement Agencies of the States viz Home Department, Finance Department, Law Department, Economic Offences Wing (EOW) etc., with the objective to control the incidents of unauthorized acceptance of deposits by unscrupulous entities.
Why is Sachet a breakthrough?
For this let’s look at the important sections of this website:
The main page:
With this website, you may:
- Track the initiatives/ Investor awareness programs/ news on defaulting companies/ and dubious investments.
- Post a feedback about regulators new policies.
- Tell them if someone is offering very high-interest rates for deposit or claiming some extraordinary investment opportunity like MLM or a Ponzi
- Track new changes in Regulations &laws made by Central, state, and regulators.
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- Make a complaint to the regulators as applicable for the product/investment/policy.
So all grievance mechanisms like – RBI, SCORE, PFRDA, IRDA, SEBI, – all under one ROOF!
- You can track the complaints made using this website.
- FAQs helps to know more about the process of making a complaint and turn around time.
In all, I loved the initiative…
My wish was if they would have combined the Ombudsman, it would have been a complete package. But so far so good too. So excluding complaint regarding banking services, you can use RBI Sachet for making complaints about the other investments product.
Dr. Rajan will be remembered for giving a new shape to RBI, his immense hard work to put economy out of the mess and instilling the confidence of common man in markets. RBI Sachet is one more beginning of his vision for India. And…Sorry, Dr. Subramanyam Swami… but what I said is what I believe.
Share your views and comment below.
Update: WealthWisher (TW2) has always kept investors interest above all, as I feel – Country can survive without Mutual Funds or PPF but it cannot survive without Investors. Product-taker rights should be protected first.
In other words: We Hate Mis-selling. Hence we have written a lot on the protection of investor interest and providing them help to resolve disputes:
If you have a grievance you may read/follow these links:
Real Estate/Property: Link
Income Tax: Link
NBFCs/Fraudulent companies: Link
RBI-Link to Ombudsman: Link
Addresses of RBI Ombudsman: Link