-The Telegraph Calcutta: Trinamul MP Kunal Ghosh's future in the party is expected to be decided after Calcutta High Court rules on two petitions by Saradha depositors seeking a CBI probe into the sham deposit-mobilisation scandal, party sources told The Telegraph. "Our leaders have been worried since the court indicated on April 25 that it was contemplating a CBI probe," a party source said. "(If action is taken now), Kunal may try to...
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In story of Saradha's crores, Bengal's forgotten hundreds -Madhuparna Das
-The Indian Express West Bengal is not new to chit fund scams. What is unique to the Saradha Group scandal is how it targeted the poorest and the most marginalised, leaving them on the verge of devastation. From 17-year-old agents who raised money from depositors to 50-year-old widows who invested money, the Saradha Group didn't discriminate in roping them in. Since the house of cards started collapsing, two agents and two...
More »Normal monsoon may give UPA some help
-The Times of India Rains could bring some relief to the UPA in the pre-election year with the meteorological department on Friday projecting a countrywide normal monsoon for 2013. The forecast should allay government's fears of food inflation jumping again over the 10% mark after being only partially tamed in the last quarter of the financial year. The weather office said that rainfall would be within the normal range - 98% of...
More »Can legal measures root out chit fund frauds? - Yes -Ramesh K. Vaidyanathan and Anumeha Iyer
-The Hindu Business Line Chit funds, one of India's oldest indigenous financial institutions, are regulated by the Chit Funds Act, 1982, a central statute, and various State-specific regulations. Further, the Securities and Exchange Board of India (SEBI) regulates the operation of ‘collective investment schemes' (Collective Investment Schemes) through the SEBI 1999 Regulations (CIS Regulations). However, Section 11 AA of the Securities and Exchange Board of India Act, 1992 specifically excludes a...
More »She lives it! -Sangeeta Barooah Pisharoty
-The Hindu Well-known feminist Kamla Bhasin says that Indian men will have to change, not to support women but to save themselves from being brutalised by centuries of exposure to patriarchy. "Mian, aap mein kuch kami hai" (Gentleman, there is something wrong with you)." Some months ago, when Kamla Bhasin, well-known feminist from Delhi, came up with this retort to Aamir Khan on his headline-grabbing tele-show Satyameva Jayate on saying that he...
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