-The Times of India The collapse of Saradha Group, promoted by Sudipta Sen, is the greatest threat yet to Mamata Banerjee's Trinamool Congress regime in Bengal. It could also imperil the finances of millions of people in Bengal, Assam, Jharkhand, Bihar, Orissa and eastern Uttar Pradesh. Trinamool's blatant association with the bigwigs of Saradha, which raised vast amounts of money from poor people before collapsing, is a potentially fatal political body blow....
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SEBI digs deeper, chit scam gets bigger -P Vaidyanathan Iyer
-The Indian Express Kolkata: Saradha Realty Ltd, which has gone bust now, may be just the beginning of the unfolding of a deeply entrenched Ponzi scheme network involving dozens of other companies in West Bengal, some of which also wield considerable media power given their ownership of television channels and newspapers. According to information available with the union corporate affairs and finance ministries, six companies, against whom market regulator Securities and Exchange...
More »WB chit fund scam: Governor calls special Assembly session next week
-CNN-IBN Kolkata: West Bengal Governor MK Narayanan has called a special session of the state Assembly next week beginning April 29 to discuss the chit fund scam. Speaker Biman Banerjee, in fact, has called an all-party meeting at 3 pm on Friday to discuss the special session. But the TMC wants the West Bengal Protection of Depositors' Interest in Financial Institution Bill to be returned by the Centre so that it could...
More »A count that just does not add up-A Srivathsan
-The Hindu Imprecise estimates of slums in the 2011 census could affect welfare programmes for least privileged groups The recently published census 2011 report on housing stock, amenities and Assets in slums, the first of its kind in the country, reassuringly announced that the number of urban slums has declined and the percentage of households in slums has dropped from 23.5 (2001) to 17.4. On the face of it, this reduction appears...
More »Job guarantee scheme: CAG raps State-Biju Govind
-The Hindu Kozhikode: An audit report of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) has slammed the State government for non-performance and poor maintenance of records in implementing the scheme from 2007 to 2012. The performance audit report, prepared by the Comptroller and Auditor General of India (CAG) and tabled in Parliament on Tuesday, revealed "delays ranging from four to six years in framing rules.'' "There were significant variations between...
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