Sachet Portal is a website launched by the RBI in 2016 to check illegal money collection. The portal provides information to the public on entities who can accept deposits. It also enables the lodging of complaints about illegal acceptance of deposits and sharing of information for coordination between the state governments and the regulators. Recently, RBI warned the public about shady lending apps that charge exorbitant interest rates and asked consumers to report such unauthorised apps via the sachet portal.
No comments yet.