-The Hindu Business Line Kolkata: Everyone knew that the bomb was ticking. But, there was not much action to curb the mushrooming ponzi schemes that were collecting thousands of crores from hapless investors across West Bengal since 2007-08. Some promised to grow money by 34 times in 25 years by investing in teak bonds. Others offered to double money in 15 months by investing in the potato trade. As a result, investments...

-PTI Washington: World Bank President Jim Yong Kim has praised the cash transfer programmes being implemented by several countries as an effective way to help the poor and reduce poverty. Without naming India, which is one of the countries implementing the cash transfer programme, Jim described the scheme as an important step towards inclusive growth. He was speaking at the ‘Fiscal Policy, Equity and Long-Term Growth in Developing Countries Conference' held at...

-The Telegraph The "Bonzi" edifice, Bengal's version of the fraudulent Ponzi scheme that conned US investors a century ago, is shaking at its foundations. The panic set off by Saradha defaulting on payments has spread to similar schemes run by other firms and triggered protests and attacks on company offices in several parts of the state. These schemes' mostly small-time rural investors have begun to panic about the safety of their hard-earned...

-The Telegraph Calcutta: From Mamata Banerjee's backyard in Harish Chatterjee Street to Contai in East Midnapore, a contagion of protests is spreading in several parts of Bengal. Funds collection agents of the Saradha Group are besieging the seats of power with appeals to step in and avert a run on the chit fund-fuelled company since the Trinamul government was seen as the undeclared gilt-edged guarantor during the good times. Trinamul lent credence to...

-The Hindu Patna: The Bihar Cabinet on Tuesday passed a proposal of the Home Department to grant 35 per cent reservation for women in recruitment of constables and sub-inspectors in reserved and as well as unreserved categories. As per the decision, women will get 35 per cent quota. The decision is part of government's women-centric measures in recent times. Women in cooperatives Earlier, the Cabinet approved 50 per cent quota for women in cooperatives. Special schemes Chief...