-The Hindu Business Line Chit funds, one of India's oldest indigenous financial institutions, are regulated by the Chit Funds Act, 1982, a central statute, and various State-specific regulations. Further, the Securities and Exchange Board of India (SEBI) regulates the operation of ‘collective investment schemes' (Collective Investment Schemes) through the SEBI 1999 Regulations (CIS Regulations). However, Section 11 AA of the Securities and Exchange Board of India Act, 1992 specifically excludes a...

-Economic and Political Weekly While the Supreme Court decision in the recent Novartis case has cleared the way for production of generic drugs in India, doctors have to prescribe cheaper alternatives to costly brands if patients with limited means are to benefit. What is being hailed as a victory in the struggle for affordable medicines in the country will actually be one only when there is a pro-patient slant to the...

-PTI Mamata Banerjee stages reversal of former apathy towards fate of those affected by Saradha Group demise Kolkata: West Bengal chief minister Mamata Banerjee staged a reversal of her former apathy towards the fate of those whose savings had disappeared amid the collapse of the deposit-taking Saradha Group. Having said on Monday that "what has gone, has gone", Banerjee on Wednesday announced a 10 percentage point hike in value-added tax (VAT) on tobacco...

-Rediff.com   Born in Mumbai's infamous red-light district, Shweta Katti has won a scholarship to the Bard College, New York. This is her story. Shweta Katti is warming up to the media attention she's been receiving lately. She has had a long day but has agreed to meet me at a coffee shop for what must have been the nth interview she's giving in the last 48 hours. It is close to 10 in...

-The Telegraph Mumbai: The Securities and Exchange Board of India (Sebi) today asked Saradha Realty India to wind up its collective investment schemes and refund investors within three months. The company as well as its managing director Sudipto Sen have been prohibited from accessing the capital markets until all collective investment schemes are wound up and the refunds are complete. Legal proceedings and steps to wind up Saradha Realty would also be...