State

Andhra Pradesh

Regulator / Enforcement Authority

RBI

Category of Awareness Programmes/Media Campaigns

Awareness programs for the public

Date when it was organized

19 May 2016

Location

Kakinada, Andhra Pradesh

Description of awareness programme

In continuation of Bank’s initiative to make the investors and common people aware of the precautions to be taken before investing their hard earned money in various non-bank entities, DNBS, Hyderabad conducted an investor awareness programme at Kakinada, East Godavari District, Andhra Pradesh on May 19, 2016. In his address, Shri Suvendu Pati, GM, DNBS explained the context in which Investor Awareness Programmes were being organised in various places jointly by all the regulators. He buttressed on the need for preventive action such as conduct of investor awareness programme, which was more beneficial as refunding investors’ money after crime is committed is a long drawn and cumbersome process. He apprised the participants about the various types of illegal / unauthorized financial activities carried out by unscrupulous individuals / entities and advised them to carry out background check of the company /entity soliciting deposits/ investments before actually parting their hard earned money. Shri KVLN Murthy, AM, DNBS made a presentation in Telugu highlighting instances and modus operandi of various scams/frauds. He made it clear to the participants not to fall prey to spurious calls and requested the participants to check website of regulators or approach Reserve Bank/ other regulators for clarification before making investment rather than after becoming a victim. He also explained about modus operandi of Ponzi schemes, Multi-Level Marketing, fake email / sms of lotteries and fraud perpetrated by some unscrupulous foreign nationals. He highlighted the Grievance Redressal mechanism in the NBFC sector and informed the participants that they were free to approach RBI in any form (say e-mail / letter / phone call) for seeking guidance. Shri T. Srinivasan, Asst. General Manager, SEBI also participated in the programme and made a presentation on Collective Investment Schemes/Deemed Public Issues and cited a few case studies. More than 150 participants representing various strata of society attended the programme and it was very well received.

Documents

N/A