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Awareness programs for the public
6 June 2016
Srikakulam, Andhra Pradesh
DNBS, Hyderabad conducted an investor awareness programme at Srikakulam town, Andhra Pradesh on June 06, 2016. 2. In the inaugural address, Shri Suvendu Pati, GM, DNBS, stressed on preventive action such as conduct of investor awareness programmes as prevention is better than cure. He thanked S.P. of the district for his presence and highlighted the importance of A.P. Protection of Interest of Depositors in Financial Establishments Act, 1999 and observed that the programmes likes this would be mutually beneficial as it would help reducing recurrence of financial frauds/crimes. He also said that financial sector was regulated by various regulators and exhorted participants to exercise due caution before investing. 3. Shri J. Brahma Reddy, IPS, Superintendent of Police, Srikakulam District, made a presentation on various land linked investment schemes and money circulation schemes. He cited few examples of dubious money circulation schemes and land linked schemes which were once popular and also explained the modus operandi of such schemes. He requested the Bank to organize more such programmes in rural areas of Srikakulam. 4. 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 also explained them the safeguards to be observed while borrowing and touched upon the Fair Practices Code. 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. 5. 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. 6. The programme was attended by more than 200 people drawn from various strata of society including pensioners, traders, businessmen, employees as well as a few police officers, FLC Counsellors, SEBI resource persons etc. and was very well received. The meet ended with a lively question and answer session in which the officials clarified the queries raised by various investors.