Assam appoints District Commissioners to enforce banning of unregulated deposit schemes act

The Assam government has officially appointed District Commissioners (DCs) within their respective jurisdictions to assist the Competent Authority in enforcing the Banning of Unregulated Deposit Schemes Act, 2019 and the Assam Banning of Unregulated Deposit Schemes Rules, 2022.

Exercising its powers under Section 7(2) of the Act, the state government has directed the DCs to scrupulously implement the rules and aid in curbing fraudulent financial schemes that exploit investors. 

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This move aims to strengthen vigilance and ensure swift action against illegal deposit schemes operating in Assam.

With this appointment, District Commissioners will play a crucial role in monitoring financial activities, assisting investigations, and taking necessary measures to protect public interests from unauthorized deposit schemes.