-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...
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Landing an opportunity
-The Indian Express Digitisation of land records is a big step forward. Now to start guaranteeing titles While landlords across the country, several million of whom prefer to keep their houses locked up instead of renting them out, will cheer the cabinet clearance for the Real Estate (Regulation and Development) Bill, the even bigger change relates to the digitisation of land records. The real estate bill allows for the setting up of...
More »Union Cabinet approves regulator for real estate, lays down norms to help home buyers
-The Times of India NEW DELHI: The Union Cabinet on Tuesday cleared a legislation to set up a long-pending real estate regulator aiming to protect home buyers from unscrupulous developers and builders. A real estate regulator - to be set up in every state - will ensure that private developers get all their projects registered with it before sale and only after obtaining all necessary clearances. "It will be mandatory for developers under...
More »The Political Economy of Shadow Finance in West Bengal-Subhanil Chowdhury
-Economic and Political Weekly The Saradha group's collapse has possibly bankrupted lakhs of small investors robbing them of their life svaings, and has rendered thousands of its agents jobless. The scam highlights the failure of the government and its regulatory agencies to reign in the mushrooming chit fund companies in West Bengal. It also brings under the scanner the Trinamool Congress' proximity with the tainted group. In the wake of the...
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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