-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 Times of India Less than 24 hours before the Supreme Court takes up the coal scam hearing on Tuesday, a blame game broke out within the government over who was responsible for incorrectly telling the court that the CBI had not shared the contents of its status report on " Coalgate" with the political executive. In a four-page letter to attorney general Goolam Vahanvati, additional solicitor general Harin Raval said he...

-The Hindustan Times Demanding a CBI inquiry into Saradha Group financial scam, CPI(M) has accused chief minister Mamata Banerjee's nephew of being involved in Ponzi schemes. "Mamata Banerjee's nephew Abhishek Banerjee, who is the leader of Trinamool Youth Congress, runs a company which is involved in real estate and micro-finance and has made a huge amount of money in the last two to three years. Its turnover has skyrocketed to 300 crores...

-The Hindustan Times As the country enters the election year, the UPA government has its task cut out in the form of legislative commitments which are looking increasingly difficult to fulfil. As many as 115 bills (excluding the finance bill) are pending before Parliament. Among these are the land acquisition and food security bills that for obvious reasons are high on the Congress-led coalition's social agenda in a poll year. Ninety-three of...

-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action against Saradha for months but has only a few differences with the old Left-sponsored bill her government has withdrawn, officials said today.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...