-The Economic Times KOLKATA: West Bengal chief minister Mamata Banerjee's plan to start a savings scheme with the aim of protecting the poor from losing their money to deposit schemes that promise high returns will be going ahead with the Reserve Bank of India having cleared the participation of state-run banks in the programme. The state government is to launch the plan on November 6. State-run West Bengal Infrastructure Development Finance Corporation...
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West Bengal: Saradha scam worth Rs 2,460 crore, report says
-PTI NEW DELHI: The alleged chit fund scam in West Bengal involving the Saradha Group revolves around a total sum of Rs 2,460 crore with 80 per cent of the depositors' monies still remaining unpaid, a latest investigation report has revealed. The report also states that the arrested Saradha chairman Sudipta Sen was in "total control" of all deposits made by his group companies, which are under the scanner for having perpetrated...
More »Court verdict embarrasses Mamata government over newspapers in libraries -Monideepa Banerjie and Abhinav Bhatt
-NDTV A year and a half after Mamata Banerjee's government ordered the removal of most English-language newspapers from all state run libraries, the Calcutta High Court has undone the decision. The court today ruled that the most-circulated newspapers in West Bengal, which include The Telegraph and Anand Bazar Patrika, must be made available for readers. In March, the government had banned all English dailies and several other vernacular ones from more than 2000...
More »Refund order to Alchemist Infra
-The Telegraph Kolkata: Sebi has barred Alchemist Infra Realty Ltd from continuing its collective investment scheme and ordered that investors, several of whom are said to be in Bengal, be refunded within three months. The capital market watchdog's order said the company had denied it had anything to do with Alchemist Group, which is run by the family of K.D. Singh, a Rajya Sabha member from the Trinamul Congress. Some party leaders...
More »Saradha scam: probe agencies face 'political' hurdles -Bibhas Bhattacharyya
-The Hindustan Times Kolkata: Probing the infamous Saradha scam for Bengal's investigating agencies is like searching for the man who stole overcoats in Nikolai Gogol's The Overcoat. It is a mammoth task made more difficult due to the involvement of political bigwigs. The enormity of the challenge is manifold. First, the web of financial irregularities amounting to thousands of crores of rupees. Second, the involvement of politicians in the scam and third,...
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