Srinagar : A sensitization program focused on Non-Banking Financial Company (NBFC) frauds and the implementation of the BUDS Act 2019 was on Wednesday conducted at Tagore Hall, Srinagar, by the Reserve Bank of India (RBI) in collaboration with the Crime Branch of J&K Police.
The event saw participation from 100 officers across various departments, including the Crime Branch, CID, Anti-Corruption Bureau, and the Prosecution department. The program was inaugurated by Sh. Sujit Kumar, IPS, IGP Crime Branch, who emphasized the challenges posed by financial frauds and the critical role of law enforcement in addressing these issues. Sh. Ram Sarup, Deputy General Manager of RBI, underscored the importance of regulatory oversight and the necessity for a specialized legal framework to facilitate investigations into NBFC frauds. The valedictory address was delivered by Sh. Abdul Qayoom, IPS, DIG Crime Branch, while Sh. Laeeq Ahmad, Joint Director of Crime Branch, provided insights into the provisions of the BUDS Act 2019 and the police’s responsibilities under this legislation. The program was organized following directives from the Chief Secretary of J&K, as part of the 35th UTLCC meeting. Additionally, officers from SEBI and RBI contributed lectures on various relevant topics, enhancing the understanding of the issues at hand.
