Ladakh

Advisor Ladakh chairs meetings of UTLSC, UTLCC

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Advisor Ladakh chairs meetings of UTLSC, UTLCC

Leh, August 04: Advisor Ladakh, Umang Narula chaired the second meeting of the Union Territory Level Security Committee (UTLSC) for the Union territory of Ladakh at the Civil Secretariat, Leh.

Regional Director, Reserve Bank of India, J&K and Ladakh, Kamal P. Patnaik Director General of Police, Ladakh, Sheikh Junaid Mehmood; Additional Secretary, Home Department, Tashi Dolma; Deputy General Manager, Issue Department, RBI Jammu, Vibha Gupta; Senior officials of Reserve Bank and officials of commercial banks were present to discuss the security and guarding arrangements at the currency chests in the UT; Safety / Security of ATMs, issues pertaining to fake Indian currency notes, and market intelligence, among others.

Welcoming the participants, Advisor Narula in his keynote address emphasized the need for improving and increasing digital-based cash transactions in Ladakh. He said digital payment would help in reducing dependency on cash transactions in the Union Territory. Also, Ladakh being a sought-after tourist destination it becomes vital for the banks to offer safe, convenient, and seamless digital transactions, he added.

Advisor Narula said that precautionary audits such as fire safety audits and other regulatory requirements should be carried out consistently by all stakeholders. He said that the Ladakh Fire Department is being strengthened and the department is moving towards building a more decentralized system of firefighting for a sparsely populated region like Ladakh.

Further, Advisor Narula requested the Reserve Bank of India to conduct training programmes for the capacity building of Ladakh police personnel in detecting fake Indian currency notes (FICN).

To combat the menace of FICN, Regional Director, Reserve Bank of India, J&K and Ladakh, Kamal P. Patnaik in his remarks advised all the banks in Ladakh to use note sorting machines so that fake Indian currency notes can be identified and impounded. Further, he requested the banks in Ladakh to supply fresh banknotes in their respective ATMs and also replace the old ATMs for the convenience of the customers.

Meanwhile, in the first meeting of the Union Territory Level Co-ordination Committee (UTLCC) chaired by Advisor Narula, the meeting discussed the implementation of the Banning of Unregulated Deposit Schemes Act, 2019; Appointment of Nodal officers from all stakeholders; Sachet portal; formation of a sub-committee of UTLCC, and sharing of Market Intelligence on Non-Banking Financial Intermediation activities.

RBI officials gave a detailed presentation on the Sachet portal. The website is an initiative of the State Level Coordination Committee (SLCC) to curb the illegal acceptance of deposits by unscrupulous entities. The website enables the public to obtain information regarding entities that are allowed to accept deposits, lodge complaints, and also share information regarding the illegal acceptance of deposits by unscrupulous entities.

While expressing his appreciation of the efforts made by the Regional Director, Reserve Bank of India, J&K and Ladakh, Kamal P. Patnaik; the RBI team, and all the stakeholders, in this regard Advisor Narula said that this committee is dealing with issues that are of great concern to the public such as cybercrimes, online frauds, unregulated deposits, etc. He said all action required will be taken under the legal provisions to get the Banning of Unregulated Deposit Schemes Act, 2019 in place in the UT of Ladakh. Advisor Narula emphasized the importance of disseminating information and creating public awareness through mass media with regard to cybercrimes.

The meeting was also attended by the Commissioner/Secretary, Department of Information and Public Relations, Padma Angmo; Director General of Police, Ladakh, Sheikh Junaid Mehmood; Administrative Secretary, Law, Faiyaz Ahmed; Additional Registrar, Cooperatives, Moses Kunzang; Additional Secretary, Finance D.C. Rajath Kumar, and Senior officials of Reserve Bank of India.

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