Shimla: A seminar on Non Banking Financing Companies (NBFCS) was held at Hotel Holiday Home Shimla today which was hosted by the Reserve Bank of India, Chandigarh.
While presiding over the Seminar Dr. R.N. Batta, Additional Secretary Finance, H.P. Government, said that this seminar would be fruitful to senior administrative and police officers. He said that it will help the State Government in keeping watch over the finance companies, non organized bodies, firms and individuals dealing with acceptance of deposits from the public. He said that various provisions of RBI Act, by which the companies are regulated and governed and general public will be benefited at it would help in putting a check on fraud companies. He said that State Government have already passed Act namely the H.P. Protection of Interests of Deposits Act, 1999.
Shri R.K. Tandon, General Manager, Reserve Bank of India Chandigarh said that Reserve Bank is holding such seminars for the benefit of civil and police officers in the State and making them aware about their role under the provision of RBI Act. He said that they have been vested with the powers for enforcement of various sections of Act.