Speaking at a conference of the state finance secretaries, in Mumbai on Monday, Sinha sought co-operation of the State Governments in curbing “dabba trading”.
Sinha informed the gathering about some recent changes in the SEBI Act to control unauthorised deposit schemes. He sought cooperation of the State Governments in this initiative by conducting concerted investor awareness programmes and imparting training to the officials.
Chief secretaries of 15 states and finance secretaries of 27 states and nine Union Territories attended the conference.
Chief Secretaries and Finance Secretaries shared their experience and made valuable suggestions in improving the co-ordination mechanism for sharing and acting on information on unauthorised deposit taking activities under different garbs.
It was also suggested that for sharing the developments and best practices and information on dubious entities, a dedicated website for SLCC (State Level Coordination Committees) members may be created.