-The Indian Express West Bengal is not new to chit fund scams. What is unique to the Saradha Group scandal is how it targeted the poorest and the most marginalised, leaving them on the verge of devastation. From 17-year-old agents who raised money from depositors to 50-year-old widows who invested money, the Saradha Group didn't discriminate in roping them in. Since the house of cards started collapsing, two agents and two...

-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...

-PTI Commission upset over 'steep rise' in cases Chandigarh: The National Commission for Scheduled Castes on Friday expressed strong displeasure over the failure of Haryana, Punjab, Uttar Pradesh and Bihar governments to prevent "steep rise" in atrocities against people from weaker sections. "The commission is in the final stages of preparing a report card on the functioning of Haryana, Punjab, Bihar and UP governments regarding increase in cases of atrocities against Dalits," NCSC...

-The Times of India The collapse of Saradha Group, promoted by Sudipta Sen, is the greatest threat yet to Mamata Banerjee's Trinamool Congress regime in Bengal. It could also imperil the finances of millions of people in Bengal, Assam, Jharkhand, Bihar, Orissa and eastern Uttar Pradesh. Trinamool's blatant association with the bigwigs of Saradha, which raised vast amounts of money from poor people before collapsing, is a potentially fatal political body blow....

-The Hindu   Fault lies with States, unfair to blame Centre: CAG source The Comptroller and Auditor-General has found serious lapses in implementation of the UPA's flagship programme, the Mahatma Gandhi National Rural Employment Guarantee Scheme. In its second performance audit submitted to Parliament on Tuesday, the CAG said employment under the MGNREGS declined, funds were being diverted for other use and possible irregularities related to wage payments occurred. The audit covers implementation of the...