6 days ago
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'The Times of India' brings you 'Hack of the Day'—a new weekday series of quick, practical solutions to everyday hassles. Each hack is designed to save you time, money or stress, using tools and features within your reach—from government websites to everyday apps. In simple terms, it's simple fixes for smarter living.Financial scams are evolving rapidly, often disguised as deposit schemes, instant loan offers, or investment opportunities that promise unusually high returns. Many of these fraudulent operators use official-sounding names, polished websites, or viral WhatsApp ads to appear legitimate.
In reality, they are unauthorized entities collecting money illegally, leaving unsuspecting consumers vulnerable to financial loss.India has seen a surge in such schemes, ranging from fake chit funds to unregistered lending apps. Victims often discover too late that the company they trusted was never recognized by regulators. This is where the Sachet portal, launched by the Reserve Bank of India (RBI), becomes a crucial safeguard. It allows you to quickly verify whether a financial entity is registered, recognized, or flagged as suspicious — helping you avoid scams before you commit your money.
What it solves
By using Sachet, you can:* Avoid fake deposit schemes.* Identify unauthorized lenders.* Spot suspicious financial operators before engaging with them.
How to use Sachet
1. Visit sachet.rbi.org.in.2. Search for the company, scheme, or financial entity you want to verify.3. Check if the entity appears in regulator-linked records or warning lists.4. Review complaint and information options if the scheme looks suspicious.5. Report the entity if you suspect unauthorized deposit-taking or fraud.
A word of caution
A clean search result does not guarantee safety. Scammers frequently change names, domains, and tactics. Always treat Sachet as a warning signal, not a final assurance. Do not rely solely on advertisements or WhatsApp forwards claiming “recognition” or “approval.”
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