‘Sachet’ : RBI’s Shield Against Financial Fraud

“Double your money in ten days,” “Loans at ultra-low interest,” or “Earn lakhs from home”—we read stories in the newspapers every day about common people losing their hard-earned savings to such tempting advertisements. To put a stop to these illegal fund-collecting entities and fraudulent investment schemes, the Reserve Bank of India (RBI) and the Central Government have developed a powerful tool: the ‘Sachet’ portal. I have written previously about various different types of Financial frauds, like Investment Frauds, FRI etc. do check them out..

What is the ‘Sachet’ Portal?

In Hindi, the word ‘Sachet’ means ‘Alert’. True to its name, this is a one-stop portal designed to alert investors about various types of frauds, allow victims to quickly file complaints, and track the status of those complaints. Often, victims of financial fraud are confused about where to go—the Bank, SEBI, RBI, or the Police. To clear this confusion, the RBI collaborated with state governments and various regulatory bodies to create this unified platform.

Key Features of Sachet :-

• Verify Registered Entities: Before investing, you can check if a company is registered with SEBI, RBI, or other government bodies and view their official notices.
• Share Anonymous Tips: If you suspect a company is illegally collecting money, you can inform the government without revealing your identity.
• Multilingual Support: The portal is available in 13 major Indian languages, including Kannada. You can file complaints and track them in your preferred language.
• Automatic Redirection: The portal automatically forwards your complaint to the correct department, such as the Police or SEBI.
• Timely Resolution: There is a rule that complaints filed through Sachet must be resolved within a specific timeframe. Typically, a resolution is provided within 30 working days.
• Covers All Digital Payments: It supports complaints related to UPI, NEFT, RTGS, IMPS, credit/debit cards, and prepaid wallets.

How to Use the Sachet Portal?

1. Visit the Website: Access the portal(sachet.rbi.org.in) on your mobile or computer.
2. Register: First-time users must select the registration option and provide their name, mobile number, and email address. This is a one-time process.
3. File a Complaint: Click on the complaint link on the homepage.
4. Fill in Details: If you know which regulator to contact, select the relevant link; if you are confused, select the final option. Enter your details and the information regarding the person or company that defrauded you.
5. Attach Documents: Upload screenshots or payment receipts related to the fraud.
6. OTP Verification: Enter the OTP sent to your mobile to submit the complaint.
7. Tracking: You will receive a reference number to track the status of your complaint at any time.

Final Word :-

It takes hours of hard work to earn money, but only a minute of carelessness to lose it. If a company offers interest rates significantly higher than a bank, there is a high chance of fraud. Always check the Sachet portal before investing. This portal is a powerful tool for the common man—use it to stay alert and protect yourself from scams.