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Awareness programs for the public
27 September 2015
Rajiv nagar, Patna
DNBS, Patna organised an awareness programme for general public at the Rajiv Nagar, Patna on September 27, 2015. The programme was conducted by officers and staff of DNBS. 2. 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. 3. 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. 4. The participants were told about the redressal mechanism in case of non-return of deposit/ funds mobilized from them by any entity. The provisions of Bihar Protection of Interest of Depositors (in Financial Establishment) Act, 2002 as amended in 2013 and the avenues available under extant laws viz., Company Law Board/Consumer Forum/ courts were also discussed.