-PTI Kolkata: West Bengal Chief Minister Mamata Banerjee, who has sought to blame the Centre for the chit fund scam, has claimed that the central government reduced the rate of interest in small savings to drive depositors towards ponzi schemes. "It is because the Centre has reduced the interest rates in small savings in the post office, poor people and those who have retired keep their money in these chit funds with...
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Now, a Bill for protection and welfare of widows-Aarti Dhar
-The Hindu The Bill is a slight improvement on a Private Member's Bill tabled in 2007 Varanasi (UP): Taking forward the movement on improving the plight of widows in the country, a Bill has now been drafted for the protection, welfare and maintenance of such women. The draft Bill prepared by Sulabh International seeks to provide for measures to be undertaken by the state for the protection, welfare and maintenance of neglected, abandoned...
More »NPCIL point man to ease Kudankulam startup -Sandeep Dikshit
-The Hindu Moscow: Ahead of a key government-level interaction with Russia here on Monday, India has sought to assure Russia that it is not deliberately delaying the startup of the Kudankulam plant with the motive of thrashing out liability issues in that project and others proposed elsewhere in the country. To show its sincerity, India is dispatching a key Nuclear Power Corporation of India Limited (NPCIL) official M. I. Joy from...
More »Different schemes built on different structures -Vinod Kothari
-The Hindu Even as thousands come to terms with the loss of life savings in the West Bengal "chit funds," it is interesting to find politicians promising new stern Laws against such funds. Absence of Laws is the least of the reasons for such schemes flourishing in the State. We are not short of such Laws - in fact, we have plenty of Laws that prohibit such schemes and provide for...
More »Under regulator’s nose-Indrani Dutta
-The Hindu Chief Minister Mamata Banerjee may be sleeping easy as she has "settled all the issues at hand" on the Saradha scam. Saradha Group promoter Sudipto Sen has been booked and a Rs. 500-crore kitty has been created to make refunds to the depositors. However, no one is clear just how the refunds would be made and whether existing Laws permit it. Mr. Sen's bubble may have burst. But the travails...
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