-The Hindustan Times As the general election nears, the government has allowed Members of Parliament (MPs) more flexibility in utilising their local area development fund. They can now install solar lights at public places, build public infrastructure in cooperative societies and buy furniture for schools. Every parliamentarian gets Rs. 5 crore every year as Member of Parliament Local Area Development (MPLAD) Fund to carry out developmental works in his or her constituency....

-PTI     FATF is an inter-governmental body that sets standards and promotes policies to combat money laundering and terrorist financing for countries across the world. In a major boost to measures being taken by India against money laundering and terror financing activities, the Financial Action Task Force (FATF) today said the country has substantially addressed the deficiencies in its regulatory framework and has become largely compliant with global standards in this regard. FATF is...

-The Times of India MUMBAI: Less than one in five single working women, excluding those divorced and widowed, take their own investment decisions, a recent all-India survey has found. Despite handling responsibilities at their workplace, they depend on parents and family members, friends and financial advisers when it comes to taking a call on money matters such as where and how much to invest. The reasons for this behaviour vary from...

-The Business Standard A trail of unfulfilled promises follow her in rural and urban Bengal The furious letter-writing since 2010 about the chit fund industry in West Bengal suggests that everyone knew the industry was going to implode. Bengal has one of the highest rates in small savings, Trinamool Congress (TMC) leader Somen Mitra wrote to the prime minister in 2011. The state buys the highest number of new life insurance policies, and...

-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...