-The Times of India NEW DELHI: The proposed law to crack down on Ponzi schemes will bar real estate developers that offer fixed returns till possession as well as schemes from jewellers as the government believes that they are “unregulated deposits”. The clampdown on realtors, jewellers and other deposit-seeking entities is part of the Banning of Unregulated Deposit Schemes Bill, which was cleared by the Cabinet on Wednesday and is expected to...

-The Times of India NEW DELHI: The government on Friday cautioned people against the risk of virtual currencies, saying they are not legal tender and do not have any regulatory permission or protection in India.   In one of the sternest warnings by the authorities, the government said virtual currencies are not backed by government fiat. The caution comes against the backdrop of a surge in interest in such instruments, fuelled by astronomical...

-The Indian Express Unorganised sector is worst-affected by demonetisation. Can banks go to them? An incident in 2000, during my initial years of work, woke me up to an uncomfortable question about post-economic liberalisation India. I was at a meeting with waste-pickers at Digha in Patna and a woman told me of her troubles with a Rs 500 note. She had saved money and changed it into a Rs 500 note, wrapped...

-The Hindu Suspended Trinamool Congress MP Kunal Ghosh was arrested on Saturday after the investigating authorities found prima facie evidence against him in connection with the Saradha Ponzi scam. Briefing reporters, Arnab Ghosh, Deputy Commissioner, Detective Department of the Bidhannagar City Police, said: "Prima facie evidence indicates that Kunal Ghosh played an equal part in the conspiracy." The Saradha group, which allegedly duped people of over Rs. 2,300 crore through its various Ponzi...

-The Telegraph The sudden arrest of Amway India's top brass on Monday has focused the spotlight on the crumbling fault lines and the grey areas in the demarcation between some of the world's best-known direct selling companies and the dodgy Ponzi schemes that promise huge returns to gullible investors and have lately grabbed all the sensational headlines in Bengal. William S. Pinckney, managing director of Amway India, and two directors of the...