Sensitisation Program on NBFC Frauds and BUDS Act Held in Srinagar

Srinagar, Aug 28: One day sensitisation program about Non-Banking Financial Company Frauds & implementation BUDS Act 2019 was held on Tuesday in Tagore Hall, at Srinagar by Reserve Bank of India, Jammu in collaboration with the Crime Branch J&K Police.100 officers from Crime Branch, Kashmir Zone, CID of J&K Police, Anti-Corruption Bureau & officers from the Prosecution department attended & participated in said program.Sujit Kumar, IPS, IGP Crime Branch inaugurated the program & presided over the function as chief Guest. In his address the chief guest highlighted the challenges of financial frauds & role of stakeholders in tackling this menace especially investigation by the Police.Ram Sarup Dy. General Manager, RBI in his welcome address highlighted the supervisory role of Regulators & need for implementation of special law in investigation of frauds by the NBFC.The valedictory address was presented by Sh. Abdul Qayoom IPS, DIG Crime Branch. Sh. Laeeq Ahmad Joint Director Crime Branch in his lecture highlighted the provisions of the BUDS Act 2019 & role of police.The said program was organised in pursuance to directions of the Ld. Chief Secretary J&K (Chairman UTLCC) issued in the 35th UTLCC meeting.Other officers who attended the said program included Smt. Sudesh Kumari Asstt. General Manager RBI, Sh. Abdul Waheed SSP EOW, Faiesal Qureshi SSP, Staff Officer, & Sh. Muzaffar Hussain SSP SCW.Officers from SEBI & RBI delivered lectures on various aspects concerning the subject.