-The Hindu The spectacular failure of the Saradha Group domiciled in West Bengal but also operating in a few adjoining States reinforces certain important messages from past scams. The first lesson to investors and regulators alike is that it is still possible for unscrupulous promoters to design and operate Ponzi schemes built around promises of extraordinary returns that are clearly unsustainable. Such schemes depend upon a steady stream of fresh deposits...

-The Hindu   Explain how minors are getting into Facebook and Google, Delhi High Court asks govt. The Delhi High Court on Thursday asked the Union government to explain how it was allowing children below 18 years to open accounts in social networking sites such as Facebook and Google. A Division Bench of Justices B.D. Ahmed and Vibhu Bakhru asked the Centre to respond within 10 days when counsel for the former BJP leader,...

-PTI In further trouble for the Ponzi scheme scam-hit Saradha group of Kolkata, the Enforcement Directorate (ED) has registered a money laundering case to probe the allegations of financial irregularities by numerous depositors against it. The ED has registered a regular case under the provisions of the Prevention of Money Laundering Act (PMLA) at its Guwahati office as the Assam police has registered an FIR against the group after allegations were made...

-The Hindu Latehar: Last week, two 14-year-old adivasi girls, who had migrated from Khunti district to work in Delhi as domestic help, were found dead in mysterious circumstances, both within two days of each other. On April 19, Jyoti Mariyam Hora died soon after she was brought to the Madan Mohan Malviya Hospital in Delhi's Malviya Nagar. Two days later, Dayamani Guriya, who had studied with Jyoti till class VI and had...

-The Indian Express Chit fund scams shine the light on the need to overhaul the financial regulatory architecture Cases of semi-regulated or unregulated entities making unrealistic promises to consumers are roiling the financial landscape. It is high time the government sees the pattern and undertakes fundamental change. The search for a solution must factor in two realities. The first is the failure of the formal regulated financial system. The breakdown of present...