RBI’s SLCC Meeting: Haryana Govt Reviews Measures Against Financial Fraud, Unauthorised Deposits

Chandigarh, Sep 8 (KNN) The Haryana government on Monday reviewed measures to tackle financial fraud, emerging cyber threats and unauthorised deposit collection at the 16th meeting of the State Level Coordination Committee (SLCC), convened by the Reserve Bank of India (RBI).

Chief Secretary Anurag Rastogi chaired the meeting, which brought together key stakeholders to review investor protection measures, market intelligence inputs, complaints received through the SACHET Portal and action taken on issues discussed at the previous meeting.

The meeting was informed that more than 36 lakh investors in the PACL Limited case have been refunded Rs 3,864 crore.

SACHET Portal Upgraded

RBI Regional Director Vivek Srivastava briefed the committee on the revamped SACHET Portal, which handles complaints and market intelligence related to unregulated financial activities. Launched on June 25, the upgraded portal features a modernised interface and workflow and is now available in 13 national languages.

It also includes improved accessibility features for differently abled persons and a tutorial video to guide users through the complaint-filing process. Rastogi directed officials to step up public awareness about the portal.

Focus on Cyber-Enabled Fraud

The committee discussed emerging forms of financial fraud in Haryana, including cyber scams linked to online gaming. Fraudsters reportedly lure young users with fake in-game rewards and exploit payment accounts linked to parents’ bank accounts for unauthorised transactions.

Officials stressed the need for greater awareness, intelligence-sharing and coordinated action to address evolving cyber-enabled financial crimes.

AI Tool to Detect Mule Accounts

The meeting also reviewed MuleHunter.ai, an artificial intelligence and machine learning-based solution developed by the Reserve Bank Innovation Hub (RBIH) to detect mule accounts. The system has been deployed across 31 major banks.

The RBI further informed the committee that more than 25,000 financial literacy programmes have been conducted across Haryana to promote awareness of safe banking, financial services and protection against fraud.

(KNN Bureau)