-The Times of India Prime Minister Manmohan Singh said on Saturday that unauthorized collection of deposits promising high returns has to be curbed as the Centre unleashed a multi-agency probe on chit funds and money pooling firms in West Bengal and the eastern region. Rattled by the collapse of the Saradha group in West Bengal, the Centre has asked various agencies such as the Enforcement Directorate (ED), Income Tax department, the ministry...
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Austerity drive forces NIA officers to use taxis
-The Hindu Sleuths of NIA are facing an unusual problem of mobility as they are "forced" to depend on taxis since the investigating agency has been unable to purchase vehicles due to an austerity drive. The chief of National Investigation Agency (NIA) told a parliamentary panel that it created three branches in Bhopal, Patna and Kolkata in 2012 but due to government's austerity measures, they have not been sanctioned any vehicle. "This is...
More »Darkness right under Nitish’s nose: Village that has never seen power-Anand Raj
-The Telegraph YOGAPUR (Patna): Chief minister Nitish Kumar wants "light" in every household but there is darkness right under his nose. Barely 30km off Patna, Yogapur's inhabitants - mostly Mahadalits, Dalits and backward classes whom Nitish has tried his best to empower - have never seen power (electricity) in their village. The chief minister has vowed not to seek votes in the 2015 elections if his power dream tripped. But, it seems, there...
More »Truth is now grey matter
-The Hindustan Times It never rains, it pours as far as the troubles of the UPA government go in recent times. Any hope that the scams which have been unearthed and their aftermath could be put behind it as it enters the final phase of its tenure before elections 2014 has been belied after the disclosure by the Central Bureau of Investigation director Ranjit Sinha that the agency had shown its...
More »Saradha-hit govt plans ordinance teeth for Sebi -Subhomoy Bhattacharjee
-The Indian Express New Delhi: Stung by the Saradha episode, the government has decided to drastically amend legislation governing the market regulator's power to police chit fund companies. The finance ministry will push for the legislation to be cleared in the current session of Parliament and, if that fails, to issue an ordinance immediately afterward. Government managers believe the explosion of Ponzi schemes in West Bengal and in Uttar Pradesh is enough...
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