On 26 March 2025, where was the 8th State Level Coordination Committee (SLCC) meeting conducted by the Reserve Bank of India (RBI)?

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  1. Gangtok
  2. Kolkata
  3. Imphal
  4. Guwahati

Answer (Detailed Solution Below)

Option 1 : Gangtok
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The correct answer is Gangtok.

Key Points

  • The 8th State Level Coordination Committee (SLCC) meeting was conducted by the Reserve Bank of India (RBI) on 26 March 2025 in Gangtok, Sikkim.
  • SLCC meetings are held to review and coordinate measures for combating illegal deposit-taking activities in the respective states.
  • The event involves participation from state government officials, regulators, and law enforcement agencies.
  • Gangtok, the capital of Sikkim, hosted the meeting to address state-specific financial and regulatory concerns.
  • The SLCC serves as a key platform to enhance inter-agency coordination and protect the public from fraudulent financial schemes.

Additional Information

  • State Level Coordination Committee (SLCC)
    • SLCC is an inter-regulatory body chaired by the RBI, established to address unauthorized deposit activities in states.
    • The committee includes representatives from SEBI, IRDAI, state governments, and law enforcement agencies.
    • It monitors entities involved in potentially illegal financial activities and facilitates timely action.
  • Role of RBI in Financial Regulation
    • The Reserve Bank of India (RBI) is the central bank responsible for monetary policy, financial stability, and supervision of banks in India.
    • It also safeguards consumers by combating fraudulent schemes through regulatory measures and public awareness campaigns.
  • Gangtok - Key Highlights
    • Gangtok is the capital city of Sikkim, a northeastern state in India known for its picturesque landscapes and cultural heritage.
    • It serves as a hub for governance, tourism, and regional development activities in the state.
    • Gangtok is also an important venue for hosting government and regulatory meetings due to its strategic location.
  • Public Awareness Initiatives
    • RBI conducts various initiatives to educate the public about fraudulent financial schemes and encourages reporting suspicious activities.
    • Awareness campaigns through media and public outreach programs are crucial in combating illegal deposit collection.
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