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Awareness programs for the public
5 November 2015
DNBS, Patna organised an awareness programme for general public at the Nagari Pracharika Sabha Hall in Arrah on November 05, 2015. The programme was conducted by officers and staff of DNBS. 2. Participants in the programme were mainly from the younger age group who are vulnerable and can be potentially employed as agents or investors in schemes of unauthorized NBFCs. They showed keen interest in the programme and were eager to know about NBFCs and the activities associated with the sector. 3. Through interactive discussions and anecdotal example based sessions the DNBS, Patna team explained in simple terms about the difference between banks and NBFCs, deposit taking companies and non-deposit taking companies, certificate of registration issued by RBI and its difference vis-à-vis registration by Registrar of Companies, Ponzi schemes, multi-level marketing methods, pyramid schemes initiated by various fraudulent companies floating in the market, different types of regulators associated with the sector, micro finance institutions and the risks involved in the sector in the form of depositing a money in NBFC, investing in shares and debentures and mutual funds, chit fund companies, Nidhi companies, fictitious offers through mails and SMS, phone calls asking for account details and money mules. 4. Pamphlets were also distributed among the public to spread awareness about NBFCs and the risks associated with the sector and the precautions to be taken by the public while depositing money in a company. The list of addresses of various regulators was also given to the gathering for convenience in reporting of complaints.