How RBI's Sachet Portal Helps People Identify Fake Financial Schemes And Report Them Easily

The Reserve Bank of India (RBI) launched, on August 4, 2016, the Sachet portal to make it easier for people to check if a financial company is genuine and to report unauthorised deposit-taking or investment schemes. The portal acts as a common platform for grievances involving banks, non-banking finance companies, and other financial institutions. It also links them to the appropriate regulator: SEBI, IRDAI, PFRDA, or the National Housing Bank, whichever is relevant for the scheme or service.

The goal behind Sachet is that when there is a case of financial fraud, one often does not know where to complain. Most people, especially small-town investors or first-time investors, are usually unaware of which regulator deals with what kind of complaint. Sachet consolidates all regulators onto a single platform and sends cases to the right authority.

Significance of the Portal

Digital lending and online investment have surged in recent times, especially among young investors who largely rely on social media or online advertisements. With this surge comes an increase in fraudulent entities promising unusually high returns or easy loans. Most of these companies are unregistered or operate outside regulatory supervision.

There has been a sharp increase in cases of financial scams, with thousands of complaints linked to fake apps or deposit schemes. Even though the total number of complaints lodged saw a 34 per cent decline in the fiscal year ending March 2025, the total monetary value of the scams has nearly tripled.

In this backdrop, a tool like Sachet allows users to double-check an entity's registration status before transferring any money. It acts as a preventive step rather than a solution after loss.

How to File a Complaint on Sachet

To lodge a complaint, please access the official website of Sachet (sachet.rbi.org.in/Complaints/Add). The page cites various types of financial services and their relevant regulators. If you already know which regulator handles your issue, click the matching option:

• For cybercrimes or online financial fraud, it redirects you to the National Cybercrime Reporting Portal.

• In the case of mutual funds, stockbrokers, or collective investment schemes, it links to SEBI's SCORES platform.

• The complaint for housing finance companies would go to the National Housing Bank’s GRIDS system.

• Regarding insurance-related complaints, it connects to the Insurance Regulatory and Development Authority.

• For pension schemes, it links to the Pension Fund Regulatory and Development Authority.

• The portal essentially connects RBI with banks, NBFCs, payment systems, or credit bureaus.

If you don't know which regulator to go to, click the last option stating “Don’t know the regulator? Click here”. This opens up a more detailed complaint form. You will need to provide:

• Your name, contact details, and state.

• Information about the company or person involved, such as name, address, website address, or telephone number.

• The type of activity: deposit, loan, or investment.

• A short description of what happened, along with supporting documents such as receipts or screenshots.

After the submission, you will get a reference number. You can check the status anytime from the "Track your complaint" tab on the home page. This Complaint Management System automatically routes the complaint to the concerned regulator or SLCC for follow-up. This is particularly helpful to those who do not have much knowledge of the regulatory framework. Rather than being transferred from one agency to another, their complaint gets routed to the appropriate body directly.

The portal is available in 13 Indian languages and has been designed to be user-friendly. Filing the complaint is only the first step. The effectiveness of Sachet depends upon how quickly each complaint is acted upon by the respective Regulator or SLCC, and the outcome of the same is informed to the complainant.

For first-time earners and young investors, Sachet can serve as an early warning mechanism against suspicious entities. But the real impact will come only when the awareness spreads and complaints lead to timely regulatory action.