Source: Hueiyen News Service
Imphal, November 14 2009:
The state finance department, with faculty support from the Reserve Bank of India (RBI), Guwahati is organising a seminar on Regulations for Non-banking Financial Companies (NBFCs) and Un-incorporated Bodies (UIBs) on November 16 at the Conference Hall of State Guest House, Sanjenthong here.
According to a statement issued by the Director of Institutional Finance, T Ranjit, the seminar will focus on the illegal operation of myriads Multi-Level Marketing Schemes at Pyramid Structure Money Circulation Scheme, schemes floated by question net, problems faced by public and depositors who deal with chit funds, prize chits and money circulation schemes, vanishing companies, and such other non-banking financial companies or organisations under Cooperative Societies Act, Indian Partnership Act, Money lenders Act, etc.
The seminar intends to educate the district government/police officials about the legal provisions for control and regulation of such activities and the care to be taken in dealing with such bodies,
it added.
Senior officials of the state government, RBI, NABARD, Academicians and representatives of Private Financial Institutions, etc would participate in the seminar.