-The Times of India SURAT: Tribals of five villages in Tapi district's Valod taluka are on a fast-unto-death at Kosambia village on the bank of Purna river since April 17. They are demanding a check on illegal mining of stones from the Banks of Valmik and Ambika rivers and illegal operation of stone quarrying at Kosambia village and strict implementation of The Panchayat (Extension to Scheduled Areas) Act. The agitators said...
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Cheat funds, again
-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...
More »Uttarakhand upset over eco-sensitive zone
-The Hindu Dehra Dun: The Uttarakhand Government would request the Centre to review the notification on eco-sensitive zone between Gomukh and Uttarkashi as its implementation would adversely affect all development activity and economic progress of the region. Briefing newspersons after a high-level meeting at the Secretariat here on Thursday, Chief Secretary Alok Kumar Jain said it had been decided to seek a review by the Centre after discussing the legal aspects, adverse...
More »Banks seek Aadhaar number for payment of LPG subsidy
-PTI Following direction from finance minister P Chidambaram, Banks have initiated the process of linking account with Aadhaar number for cash transfer of LPG and other subsidies. Banks have started informing customers through different mode of communication including SMS about linking of Aadhaar number with the account number to facilitate subsidy transfer. "For getting LPG, MGNREGA and other subsidies direct to your account, please get your account linked with Aadhaar number," Canara Bank...
More »The fall of Saradha group revives old ghosts of ponzi schemes going bust -Atmadip Ray
-The Economic Times For many, it is a sense of deja vu. Fifteen years ago, the government and India's financial regulators came under fire after hundreds of crores were cleaned up by a few individuals and entities from gullible investors, who were promised fabulous returns from plantation schemes. In the uproar that followed, the government and the regulators sought to palm off the responsibility of regulation of such schemes on each...
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