"There are lot of non-banking financial companies (NBFCs) in the state and some of them are dubious. Such fake companies have cheated huge amounts from the people," Gogoi told reporters here.
"We also ask the common people in the state to exercise caution before investing their hard-earned money," he said.
The state government has on September 2 directed Principal Secretary (Finance) H S Das to conduct a probe against fake financial institutions in Assam.
RBI had last week cautioned people in the north eastern states not to deposit money in any company without proper verification.