-IANS An anti-tobacco group on Thursday expressed shock over West Bengal chief minister Mamata Banerjee's joke asking people to smoke more, so more revenue could be garnered to compensate investors of the collapsed Saradha financial scam. "This is a great discouragement for those working in the area of public health," said Bhavna Mukhopadhyay, executive director, Voluntary Health Association of India. Mukhopadhyay said the West Bengal chief minister announced a 10% tax hike...
More »SEARCH RESULT
Total Matching Records found : 53
Rs 4,000 cr at stake, SEBI asks Bengal to probe five more chit fund companies -Madhuparna Das
-The Indian Express Kolkata: As the investigation into the Saradha Chit Fund Scam threatens to reach the doorstep of the Trinamool Congress, the markets watchdog is learnt to have warned of a larger, more frightening scenario: similar Ponzi schemes run by at least five other companies in West Bengal, involving over Rs 4,000 crore of small investors' money. In its latest communication sent to the state government, the Securities and Exchange Board...
More »Mamata Banerjee under attack for asking people to smoke more
-IANS KOLKATA: West Bengal chief minister Mamata Banerjee on Thursday came in for sharp criticism from within her party and the opposition after she suggested people to "smoke more" to provide compensation to victims of a Chit Fund Scam. "Smoking is bad.. let there be tax on it. But am I responsible for what Sudipta Sen did? Why should I pay more tax on every cigarette I smoke? I haven't fleeced the...
More »Corporate affairs ministry may order probe into functioning of Saradha group companies
-PTI The corporate affairs ministry is likely to order a probe into functioning of Saradha group companies amid growing controversy over the Kolkata-based entity allegedly duping thousands of investors. Corporate affairs minister Sachin Pilot along with senior ministry officials would hold a meeting on Thursday to look into the functioning of various chit funds including issues related to Saradha group companies. A senior official said the ministry is likely to order a probe...
More »Fixing the foundations
-The Indian Express Chit Fund Scams shine the light on the need to overhaul the financial regulatory architecture Cases of semi-regulated or unregulated entities making unrealistic promises to consumers are roiling the financial landscape. It is high time the government sees the pattern and undertakes fundamental change. The search for a solution must factor in two realities. The first is the failure of the formal regulated financial system. The breakdown of present...
More »
