-The Telegraph Ranchi: Sluggish economy and soaring personal aspirations are teaming up to create fertile ground for quick-rich chit fund schemes and non-banking finance companies such as the now-infamous Saradha to mushroom, but rules to give Jharkhand investors the much-needed safety net are hanging fire since over a year. Jharkhand Assembly had early last year forwarded rules framed by the state's institutional finance department for the President's consideration under The Chit Funds...

-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...

-The Indian Express The CBI may have made the Supreme Court's task in deciding whether the "vetting" of its status report in the coal scam by members of the executive amounted to interference or not a lot easier. This is because along with its second status report, the CBI has submitted to the Supreme Court an annexure with a detailed listing of all the changes made in two stages to its...

-The Telegraph YOGAPUR (Patna): Chief minister Nitish Kumar wants "light" in every household but there is darkness right under his nose. Barely 30km off Patna, Yogapur's inhabitants - mostly Mahadalits, Dalits and backward classes whom Nitish has tried his best to empower - have never seen power (electricity) in their village. The chief minister has vowed not to seek votes in the 2015 elections if his power dream tripped. But, it seems, there...

-The Telegraph Calcutta: Mamata Banerjee's zeal for a new anti-fraud bill could delay action against Saradha for months but has only a few differences with the old Left-sponsored bill her government has withdrawn, officials said today. "Except for three provisions and a few other minor changes, the language of the two bills is identical," a law department official said. A senior Writers' Bureaucrat said the legislative steps that the new bill must...